News | Heart Valve Technology | April 11, 2017

Boston Scientific to Acquire TAVR Maker Symetis

Acquisition will expand treatments for valvular heart disease and strengthen company's position in structural heart market

Boston Scientific is buying TAVI valve maker Symetis, which has European approval for its Acurate Neo valve

The Symetis Acurate Neo TAVI valve.

April 10, 2017 — Boston Scientific recently announced a $435 million cash deal to acquire Symetis SA, a privately-held Swiss structural heart company focused on minimally-invasive transcatheter aortic valve implantation (TAVI) devices.

The Symetis portfolio includes the Acurate TA and Acurate neo/TF transcatheter aortic vale replacement (TAVR) systems. They are designed for use in the treatment of high-risk patients suffering from severe and symptomatic aortic valve stenosis. The valves are available for sale in Europe and other countries outside the United States. Symetis is also developing the Acurate neo/AS next generation valve system, currently in a clinical trial intended to serve as the basis for a future CE mark application.

This agreement to acquire Symetis follows the recent acquisition by Boston Scientific of certain Neovasc Inc. manufacturing assets. It is part of the company's continuing investment in structural heart through intellectual property, research and development, and manufacturing capabilities.

"The steps we are taking reflect our commitment to being a leader in TAVI and structural heart technologies now and over the long-term, as we broaden our portfolio and pipeline to address the needs of our global health care providers and their patients," said Ian Meredith, M.D., executive vice president and global chief medical officer, Boston Scientific. "The Acurate family of valve products is strongly complementary to our cornerstone Lotus valve platform, and this compelling combination of technologies will allow us to provide interventional cardiologists and cardiac surgeons with multiple TAVI offerings for varying patient pathologies and anatomy."

Symetis is based in Ecublens, Switzerland, with approximately 300 employees worldwide.

"We are excited to be joining Boston Scientific," said Jacques R. Essinger, Ph.D. and CEO, Symetis. "We have great respect for the company's legacy and strong leadership in interventional cardiology, and we look forward to being part of driving further innovation across its diversified portfolio."

The acquisition is projected to close during the second quarter of 2017, subject to customary closing conditions.

On an adjusted basis, the transaction is expected to be immaterial in 2017, slightly accretive in 2018, and increasingly accretive thereafter.  The transaction is expected to be less accretive (or dilutive, as the case may be) on a GAAP basis, due to amortization expense and transaction and integration costs.

For more information: www.bostonscientific.com

Related Content

Boston Scientific Projects 2019 Launch for Lotus Edge Aortic Valve System
News | Heart Valve Technology | February 23, 2018
February 23, 2018 — Boston Scientific announced In November 2017 a delay to timelines for commercialization of the Lo
Gate Bioprosthesis Used in Canada's First Transcatheter Valve Replacement for Tricuspid Regurgitation
News | Heart Valve Technology | February 22, 2018
NaviGate Cardiac Structures Inc. (NCSI)announced that on Feb. 2, 2018, its catheter-guided Gate valved-stent...
Edwards Lifesciences Centera self expanding transcatheter (TAVR) valve has been approved with CE mark for use in Europe.
Feature | Heart Valve Technology | February 15, 2018
February 15, 2018 — Edwards Lifesciences Corp.
Boston Scientific Enters Investment and Acquisition Option Agreement With Millipede
News | Heart Valve Technology | January 24, 2018
Boston Scientific Corp. announced it has closed an investment and entered into an acquisition option agreement with...
Edwards LifeSciences Recalls Sapien 3 Certitude Delivery System
News | Heart Valve Technology | January 11, 2018
The U.S. Food and Drug Administration (FDA) announced that Edwards LifeSciences is recalling its Certitude Delivery...
Videos | Heart Valve Technology | January 04, 2018
Adam Greenbaum, M.D., co-director, Center for Structural Heart Disease, Henry Ford Hospital, Detroit, explains how hi
Edwards Acquires Harpoon Medical
News | Heart Valve Technology | December 07, 2017
December 7, 2017 — Edwards Lifesciences Corp.
Videos | Heart Valve Technology | November 15, 2017
Ted Feldman, M.D., MSCAI FACC FESC, director of the cardiac cath lab, Evanston Hospital, is the principal investigato
New Analyses Reinforce Hemodynamic Benefits of Evolut TAVR Platform in Intermediate-Risk Aortic Stenosis Patients
News | Heart Valve Technology | November 08, 2017
Medtronic plc recently presented new clinical research to support the positive clinical performance of the Evolut...
Overlay Init