Boston Scientific is exploring a possible acquisition of Shockwave Medical, the California-based healthcare company known for its intravascular lithotripsy (IVL) technology, according to sources familiar with the matter.
Shockwave Medical has a current market value of approximately $10.5 billion. According to a report by Bloomberg, any deal would be “one of Boston Scientific’s largest ever,” rivaled only by a 2006 deal the company made to acquire Guidant Corp. for more than $27 billion.
Shockwave’s recent history of success
Shockwave Medical has had a busy few years, propelled by the success of its IVL technology, which is now approved by the U.S. Food and Drug Administration for the treatment of both severely calcified coronary artery disease and peripheral artery disease. Also, when the Society for Cardiovascular Angiography and Interventions (SCAI) issued a new guidance document in February that said severely calcified lesions could be treated at facilities with no on-site surgical backup, this opened the door for coronary IVL to be performed at every cath labs in the United States.
Shockwave Medical also recently agreed to acquire medical device company Neovasc for approximately $100 million. Neovasc has already received CE mark approval in Europe for its Neovasc Reducer System, a device designed to reduce symptoms associated with refractory angina by altering a patient’s blood flow. The solution has not yet gained full approval from the U.S. Food and Drug Administration, but it did receive the agency’s breakthrough device designation in October 2018 and is currently being evaluated as part of the COSIRA-II clinical trial.
Boston Scientific staying active
Boston Scientific has made several high-profile acquisitions to bolster its cardiovascular portfolio in recent years. In 2022 alone, for example, the vendor acquired Baylis Medical and Obsidio and acquired a majority stake in Acotec Scientific Holdings.
Boston Scientific and Shockwave Medical declined to comment at this time. However, Shockwave Medical did announce an upcoming conference call to discuss the first quarter of 2023. The conference call is scheduled for May 8.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.