Boston Scientific has acquired medical devices maker Baylis Medical Company in a bid to expand the former’s electrophysiology and structural heart product portfolio.
The deal, which includes an upfront payment of $1.75 billion, enables Boston Scientific to add the radiofrequency (RF) NRG and VersaCross Transseptal Platforms to its portfolio, in addition to a suite of guidewires, dilators, and sheaths used to support left heart access.
The said platforms are known to enhance safety, efficiency, and efficacy while crossing the atrial septum to deliver therapies on the left side of the heart. Their advanced transseptal puncture capabilities are valuable for atrial fibrillation ablation, mitral valve interventions, and left atrial appendage closure (LAAC). Baylis is expecting to generate net sales of around $200 million in 2022 from these platforms, causing consistent sales to increase over the last five years.
“A leader in many of the fastest-growing markets in our industry, we believe that Baylis Medical Company will add meaningful revenue, operating income, and new research and development capabilities across multiple Boston Scientific businesses, while complementing existing offerings within our electrophysiology and structural heart portfolios,” commented Mike Mahoney, chairman and chief executive officer of Boston Scientific, in a statement.
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Previously, doctors had relied on a mechanical needle to pass through the septum and access the left side of the heart. However, this method came with safety concerns and placement challenges depending on the patient’s anatomy. Rather than relying on mechanical force, Baylis’ platforms allow predictable and safe transseptal access through RF energy.
The VersaCross platform also streamlines transseptal crossing procedures and therapy delivery by offering the same benefits while eliminating potential wire and sheath exchanges, which might help reduce risks during treatment.
Baylis received a 510(k) clearance from the U.S. Food and Drug Administration for the NRG platform in 2008 and the VersaCross platform in 2020.
“As a leading innovator in left heart access solutions, we develop advancements that help physicians deliver critical, high-precision therapies, which raise the standard of care for patients. We look forward to making these life-changing technologies available to more patients across the globe through the significant commercial reach of Boston Scientific,” said Kris Shah, president of Baylis.
The acquisition is expected to be completed in the first quarter of 2022, subject to customary closing conditions and regulatory approvals.
Boston Scientific has been on an acquisition spree over the last few months. In early September, it took over the global surgical business of Lumenis for $1.07 billion in cash upfront to further its presence in the field of kidney stone management and benign prostatic hyperplasia treatment. A couple of weeks later, Boston Scientific announced that it was acquiring Devoro Medical, the developer of the WOLF Thrombectomy Platform, for an upfront payment of $269 million.
Source: Biospace
