Boston Scientific To Acquire Blood Clot Removal Tech Company Devoro Medical

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Boston Scientific Corp. has agreed to acquire Devoro Medical Inc. in a deal expected to close this year.  Boston Scientific previously held a 16% equity stake in Devoro Medical and now agrees to acquire the remaining 84% stake for $269M.  Boston Scientific also agrees to pay up to $67M more if Devoro Medical clears certain regulatory and clinical milestones.

Devoro Medical is the developer of the WOLF Thrombectomy® Platform–a technology platform that “targets and rapidly captures blood clots using finger-link prongs that retrieve and remove thrombi in the arterial and venous systems.”

According to Boston Scientific’s press release:

“The addition of the WOLF platform advances our efforts to ensure physicians have the right tools to improve procedural efficiencies,” said Jeff Mirviss, executive vice president and president, Peripheral Interventions at Boston Scientific. “Clot management remains a core focus of our business, and upon commercialization, this highly differentiated technology will complement and expand our offerings to a full suite of interventional strategies for thromboemboli, which also includes the EkoSonic™ Endovascular System (EKOS) and the AngioJet™ Thrombectomy System.”

Boston Scientific plans to accelerate development of the WOLF platform following its acquisition of Devoro Medical, according to Michael R. Jaff, D.O., its Chief Medical Officer and Vice President of Clinical Affairs, Technology and Innovation, Peripheral Interventions.

This deal is the latest in a series of acquisitions this year by Boston Scientific.  In January, Boston Scientific agreed to acquire cardiac wearables company Preventice Solutions for $925M.  In March, Boston Scientific agreed to acquire the global surgical business of Lumenis LTD for $1.07B.  And, in June, Boston Scientific agreed to acquire cardiac ablation device maker Farapulse for $295M.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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