Boston Scientific to acquire California manufacturer for up to $575M
Photo | Courtesy Boston Scientific
Boston Scientific headquarters, Marlborough
Marlborough medical-device giant Boston Scientific Corp. will exercise its option to purchase remaining shares of California manufacturer Farapulse Inc. in a deal that, when settled, could total $575 million, the company announced in June.
Beginning its investment in Farapulse in 2014, Boston Scientific already owned 27% of the company, prior to the announcement. The full transaction price including the previous ownership will be $450 million in up-front payments, and up to $125 million in payments pending the achievements of clinical and regulatory milestones as well as additional revenue-based payments through calendar year 2023.
Farapulse was the first company to commercialize a cardiac Pulsed Field Ablation system. Cardiac ablation is a process that treats atrial fibrillation and other arrhythmias usually using heat or cold energy to create scars in heart tissue. Farapulse’s system uses an electric field allowing the system to be more selective in the tissue it ablates.
"The emerging field of PFA has the potential to alter the future of ablation therapy and has shown the promise of improvements in both safety of cardiac ablations for patients and efficiency and ease-of-use of these procedures for physicians. The Farapulse PFA System is intended to enable physicians to precisely ablate cardiac tissue while minimizing procedural complications, and real-world and clinical evidence from trials throughout Europe have demonstrated encouraging, positive results,” said Kenneth Stein, Boston Scientific’s senior vice president and chief medical officer, rhythm management and global health policy in a June 24 press release.
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