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

Abbott Tricuspid Valve Repair System Reduces Tricuspid Regurgitation at 30 Days
News | Heart Valve Technology | June 11, 2019
June 11, 2019 — Abbott recently announced positive late-breaking data from its TRILUMINATE...
DSM and SAT Partnering to Develop Next-Generation, Cost-Effective Heart Valve
News | Heart Valve Technology | June 04, 2019
Royal DSM recently announced a collaboration with Strait Access Technologies (SAT), to develop the world’s first...

The MitraClip is one example of a transcatheter mitral valve repair or replacement (TMVR) device used in the structural heart repair program at Henry Ford Hospital.

Podcast | Heart Valve Technology | May 31, 2019
Marvin Eng, M.D., structural fellowship director at Henry Ford Health System, and William O'Neill, M.D., director of
Illustration showing the catheter steps for the LAMPOON procedure designed to prevent left ventricular outflow tract (LVOT) obstruction . From Dr. Jaffar M. Khan and the Laboratory of Cardiovascular Intervention, led by Dr. Robert J. Lederman.

Figure 1: Illustration showing the catheter steps for the LAMPOON procedure. From Dr. Jaffar M. Khan and the Laboratory of Cardiovascular Intervention, led by Dr. Robert J. Lederman.

Feature | Heart Valve Technology | May 22, 2019
Researchers at the National, Heart, Lung, and Blood Institute (NHLBI), part of the National Institutes of Health (NIH
Edwards Announces Research Milestones for Pascal Transcatheter Mitral Valve Program
News | Heart Valve Technology | May 22, 2019
Edwards Lifesciences Corp. announced strategic clinical and regulatory milestones for its Edwards Pascal transcatheter...
Videos | Heart Valve Technology | May 20, 2019
A demonstration of how to calculate the neo-left ventricular outflow tract (neo-LVOT) on CT imaging for a transcathet
Study Finds TAVR Can Be Considered for Patients in All Surgical Risk Classes
News | Heart Valve Technology | May 08, 2019
Transcatheter aortic valve replacement (TAVR) has been studied as an alternative to surgical aortic valve replacement...
Boston Scientific Receives FDA Approval for Lotus Edge Aortic Valve System
Feature | Heart Valve Technology | April 23, 2019 | Dave Fornell, Editor
Boston Scientific Corp. announced it has received U.S. Food and Drug Administration (FDA) approval for the Lotus Edge...
New Consensus Document Explores Optimized Care for Valvular Heart Disease Patients
News | Heart Valve Technology | April 22, 2019
April 22, 2019 — Five cardiovascular professional societies released a new consensus document on optimizing care for
Mick Jagger Recovering After TAVR Procedure
News | Heart Valve Technology | April 08, 2019 | Jeff Zagoudis, Associate Editor
Rolling Stones frontman Mick Jagger is reportedly recovering after undergoing a transcatheter aortic valve valve...
Overlay Init