Boston Scientific buys valve company for $435M
Courtesy/Boston Scientific
Boston Scientific's global headquarters in Marlborough.
Boston Scentific is buying a Swiss heart valve company for $435 million in cash, the Marlborough medical technology company announced Thursday.
Symetis, with about 300 employees worldwide, makes valve systems for use in the treatment of high-risk patients suffering from severe and symptomatic aortic valve stenosis, a serious condition when the large blood vessel branching off from the heart narrows. The valves are sold in Europe and elsewhere outside the United States.
Boston Scientific said the deal reflects the company's commitment to being a leader in transcatheter aortic valve implantation, known in the industry as TAVI. The company is broadening its portfolio and product pipeline "to address the needs of our global health care providers and their patients," the company's executive vice president and global chief medical officer, Ian Meredith, said in a statement accompanying the sale announcement.
Boston Scientific shares through mid-afternoon Thursday fell by 1.4 percent, or 34 cents, to $24.36 a share.
The purchase is expected to close in the second quarter of the year. Boston Scientific will announce its first quarter results April 27.
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