Boston Scientific Announces Agreement to Acquire Symetis

News

Submitted on Tue, 05/09/2017 - 17:08

Boston Scientific Corporation announced a definitive agreement to acquire Symetis SA, a privately-held Swiss structural heart company focused on minimally-invasive transcatheter aortic valve implantation (TAVI) devices, for $435 million in up-front cash.

The Symetis portfolio includes the ACURATE TA and ACURATE neo/TF valve* systems for use in the treatment of high-risk patients suffering from severe and symptomatic aortic valve stenosis, which are sold in Europe and in other geographies outside of the United States. Symetis is also developing the ACURATE neo/AS** next generation valve system, currently in a clinical trial intended to serve as the basis for a future CE mark application.

This agreement to acquire Symetis follows the recent acquisition by Boston Scientific of certain Neovasc, Inc. manufacturing assets, and demonstrates the company’s continued investment in structural heart through intellectual property, research and development, and manufacturing capabilities.

Symetis is based in Ecublens, Switzerland, with approximately 300 employees worldwide.

The acquisition is projected to close during the second quarter of 2017, subject to customary closing conditions.

*    The ACURATE TA and ACURATE neo/TF valve systems are not available for use or sale     
    in the U.S.

**  The ACURATE neo/AS valve system is not available for use or sale.