The second largest heart device company continues to grow. Boston Scientific has agreed to purchase Plymouth, MN-based Atritech, whose technology focuses on atrial fibrillation devices in a potential $375 million deal. The merger should close in the first quarter of 2011.
"The acquisition of Atritech reinforces Boston Scientific's continued commitment to providing the broadest portfolio of less-invasive devices across the continuum of cardiovascular care," said Hank Kucheman, Executive Vice President and Group President, Cardiology, Rhythm and Vascular for Boston Scientific, in a release. "The WATCHMAN device is implanted by both electrophysiologists and structural heart-focused interventional cardiologists. We will leverage expertise from our Electrophysiology and Interventional Cardiology sales forces to drive commercialization of the WATCHMAN device. Atritech will significantly strengthen our product offerings for patients with atrial fibrillation."
Boston Sci will pay $100 million up front with another $275 million stemming from milestone payments. The company's last acquisition was Sadra Medical in November.
- read the Boston Sci release
- here's the Bloomberg story