Boston Scientific acquires privately held TAVR company for $435 million
Boston Scientific agreed to acquire Symetis SA on March 30 for $435 million in an all-cash deal.
Symetis SA, a privately held company based in Switzerland, focuses on developing transcatheter aortic valve replacement (TAVR) devices. The company’s ACURATE TA and ACURATE neo/TF valve systems are approved in Europe for high-risk patients with severe, symptomatic aortic valve stenosis. They are not FDA-approved. Symetis is also developing the ACURATE neo/AS valve system, which is not approved in Europe or the U.S.
Boston Scientific said in a news release the acquisition is expected to close during the second quarter of 2017 and is subject to customary closing conditions.
In December 2016, Boston Scientific agreed to acquire a 15 percent equity stake in Neovasc and the company’s advanced biological tissue business for $75 million in cash. Neovasc’s advanced biological tissue business makes elements used in TAVR devices.
In February, Boston Scientific said it was recalling all of its Lotus heart devices and delaying an FDA submission for its Lotus Edge TAVR device, according to Reuters. The company expects the Lotus devices to return to Europe and other markets in the fourth quarter of 2017. Boston Scientific also hopes the Lotus Edge TAVR device will gain FDA approval in 2018.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.