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

News | Heart Valve Technology

January 4, 2024 — Findings from a published case series research letter by the Henry Ford Health Structural Heart ...

Home January 04, 2024
Home
News | Heart Valve Technology

December 22, 2023 — TRiCares SAS (“TRiCares”), a privately held pioneer in the field of minimally invasive treatment of ...

Home December 22, 2023
Home
News | Heart Valve Technology

December 18, 2023 — Death rates related to infective endocarditis declined in most adults across the U.S. within the ...

Home December 18, 2023
Home
News | Heart Valve Technology

December 12, 2023 — Patients who received the anticoagulant drug warfarin after bioprosthetic aortic valve replacement ...

Home December 12, 2023
Home
News | Heart Valve Technology

November 20, 2023 — Abbott announced new late-breaking data that show advanced heart failure patients living with its ...

Home November 20, 2023
Home
News | Heart Valve Technology

October 24, 2023 — Abiomed, part of Johnson & Johnson MedTech[1], announced that novel data from seven research studies ...

Home October 24, 2023
Home
News | Heart Valve Technology

October 17, 2023 — The Patel Children's Heart Institute at St. Joseph's Children's Hospital achieved a milestone ...

Home October 17, 2023
Home
News | Heart Valve Technology

August 2, 2023 — Foldax, Inc., a leader in the development of innovative, polymer heart valves, today announced that the ...

Home August 02, 2023
Home
News | Heart Valve Technology

July 31, 2023 — Today, the U.S. Food and Drug Administration (FDA) is providing an update to the February 27, 2023 ...

Home July 31, 2023
Home
Subscribe Now