News | Heart Valve Technology | December 07, 2016

Boston Scientific to Acquire Neovasc Advanced Biological Tissue Capabilities

$75 million transaction enhances manufacturing expertise in structural heart device technology

Lotus Edge valve

December 7, 2016 — Boston Scientific announced a definitive agreement to acquire certain manufacturing assets and capabilities of the Neovasc Inc. advanced biological tissue business, as well as a 15 percent equity stake in Neovasc. The total value of the deal is $75 million in cash. 

The Neovasc advanced biological tissue business makes elements used in transcatheter heart valves, including the Boston Scientific Lotus Valve System. Upon completion of the transaction, the Neovasc advanced biological tissue capabilities will be integrated into the Boston Scientific structural heart business for use in the manufacturing of the Lotus valve and future heart valve technologies.  

"We continually seek ways to optimize our manufacturing processes and enhance our product portfolio," said Ed Mackey, executive vice president, operations, Boston Scientific. "The vertically integrated operational capabilities resulting from this acquisition will strengthen our structural heart pipeline and immediately benefit our Lotus valve platform as we work to increase our market share in Europe and prepare for launch in the U.S., expected in late 2017."   

The acquisition is expected to close by year-end 2016, subject to customary closing conditions, and to be immaterial to Boston Scientific earnings per share (EPS) in 2016 and 2017 on an adjusted and GAAP basis.

Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace, including the Tiara transcatheter mitral valve in development for the transcatheter treatment of mitral valve disease, and the Neovasc Reducer for the treatment of refractory angina.

The Lotus and Tiara valve system are investigational devices in the U.S., limited by law to investigational use and not available for sale. The Neovasc Reducer technology is CE marked. It is under development in the U.S, and not available for sale.

For more information: www.bostonscientific.com 

Related Content

Montreal Heart Institute Performs First Robotic Mitral Valve Surgery
News | Robotic Systems| September 22, 2017
The Montreal Heart Institute (MHI) announced the acquisition of the da Vinci Xi, a new-generation surgical robot, and...
Edwards Inspiris Resilia Valve Receives FDA Approval
News | Heart Valve Technology| September 21, 2017
Edwards Lifesciences Corp. recently received U.S. Food and Drug Administration (FDA) approval for its Inspiris Resilia...
Tryton Side Branch Stent Recognized With Premier Technology Breakthrough Award
News | Stents Bifurcation| September 21, 2017
September 21, 2017 — Cardinal Health and Tryton Medical Inc.
DISRUPT BTK Study Shows Positive Results With Lithoplasty in Calcified Lesions Below the Knee
News | Peripheral Artery Disease (PAD)| September 20, 2017
Shockwave Medical reported positive results from the DISRUPT BTK Study, which were presented at the annual...
Corindus Announces First Patient Enrolled in PRECISION GRX Registry
News | Robotic Systems| September 18, 2017
September 18, 2017 — Corindus Vascular Robotics Inc.
Two-Year ILLUMENATE Trial Data Demonstrate Efficacy of Stellarex Drug-Coated Balloon
News | Drug-Eluting Balloons| September 18, 2017
Philips announced the two-year results from the ILLUMENATE European randomized clinical trial (EU RCT) demonstrating...
Sentinel Cerebral Protection System Significantly Reduces Stroke and Mortality in TAVR
News | Embolic Protection Devices| September 18, 2017
September 18, 2017 – Claret Medical announced publication of a new study in the...
Fysicon Receives FDA Approval for QMAPP Hemodynamic Monitoring System
Technology | Hemodynamic Monitoring Systems| September 18, 2017
Fysicon announced that it has been granted 510(k) clearance by the U.S. Food and Drug Administration (FDA) for its...
Peter Schneider, M.D. presents late breaking clinical trial results at VIVA 17 in Las Vegas. Panelists (l to r) Krishna Rocha-Singh, M.D., Sean Lyden, M.D., John Kaufman, M.D., Donna Buckley, M.D.

Peter Schneider, M.D. presents late breaking clinical trial results at VIVA 17 in Las Vegas. Panelists (l to r) Krishna Rocha-Singh, M.D., Sean Lyden, M.D., John Kaufman, M.D., Donna Buckley, M.D.

Feature | Cath Lab| September 14, 2017
September 14, 2017 — Here are quick summaries for all the key late-breaking vascular and endovascular clinical trials
Mississippi Surgical and Vascular Center Uses Toshiba Ultimax-i FPD to Save Patients' Limbs
News | Angiography| September 14, 2017
The southern U.S. sees some of the highest numbers of chronic medical conditions, such as peripheral artery disease...
Overlay Init