January 6, 2011 – Boston Scientific has completed its acquisition of transcatheter valve developer Sadra Medical.
The transaction follows the definitive merger agreement announced on Nov. 19. Under the terms of the agreement, Boston Scientific paid $193 million to acquire the remaining 86 percent of Sadra Medical's equity. Additional payments of up to $193 million are contingent upon achievement of specified regulatory and revenue-based criteria through 2016.
Sadra Medical is developing the first fully repositionable device for percutaneous aortic valve replacement to treat patients with severe aortic stenosis. The company recently completed a series of European feasibility studies for its Lotus Valve System, which consists of a stent-mounted tissue valve prosthesis and catheter delivery system for guidance and placement of the valve. The low-profile delivery system and introducer sheath are designed to enable accurate positioning, repositioning and retrieval at any time prior to release of the aortic valve implant.
For more information: www.bostonscientific.com