News | January 02, 2019

Boston Scientific Exercises Option to Acquire Millipede Inc.

Acquisition will expand structural heart portfolio to include transcatheter mitral annuloplasty repair system

Boston Scientific Exercises Option to Acquire Millipede Inc.

January 2, 2019 — Boston Scientific Corp. exercised its option to acquire the remaining shares of Millipede Inc, a privately-held company in Santa Rosa, Calif., upon its recent successful completion of a first-in-human clinical study. The acquisition will expand the Boston Scientific Structural Heart portfolio to include the Iris Transcatheter Annuloplasty Ring System, which is in development for the treatment of patients with severe mitral regurgitation (MR) who are not able to tolerate open-heart surgery.

Boston Scientific initially entered into an investment and acquisition option agreement with Millipede in January 2018. It purchased $90 million in existing and newly-issued Millipede shares, with the option to acquire the company's remaining shares for $325 million at closing, with a $125 million payment becoming available upon achievement of a commercial milestone.

The quickly expanding transcatheter mitral repair and replacement market is estimated to reach $1 billion by 2021, with the majority comprised of repair procedures.

The Iris system uses a complete annuloplasty ring, considered the gold-standard surgical approach, to reduce the size of a dilated mitral annulus. It is delivered via a transcatheter-transseptal delivery system, and can be used as a stand-alone device, or in combination with other technologies in patients with severe MR.

The IRIS Transcatheter Annuloplasty Ring System is an investigational device and not available for sale.

For more information: www.bostonscientific.com


Related Content

News | Cath Lab

September 13, 2023 — A diagnostic test, first offered in the United States at University Hospitals (UH) Harrington Heart ...

Home September 13, 2023
Home
News | Cath Lab

August 2, 2023 — Teleflex Incorporated, a leading global provider of medical technologies, announced the U.S Food and ...

Home August 02, 2023
Home
News | Cath Lab

July 13, 2023 — Mount Sinai Queens announced the opening of a new cardiac catheterization lab that will provide rapid ...

Home July 13, 2023
Home
News | Cath Lab

June 21, 2023 — Royal Philips, a global leader in health technology, announced it has teamed up with BIOTRONIK (Lake ...

Home June 21, 2023
Home
News | Cath Lab

May 16, 2023 — Royal Philips, a global leader in health technology, announced late-breaking data from the DCR4Contrast ...

Home May 16, 2023
Home
News | Cath Lab

March 14, 2023 — Royal Philips, a global leader in health technology, and the Gibraltar Health Authority, announced they ...

Home March 14, 2023
Home
News | Cath Lab

March 1, 2023 — SpectraWAVE, Inc., a medical imaging company focused on improving the treatment and outcomes for ...

Home March 01, 2023
Home
News | Cath Lab

May 31, 2022 — Innovative Health, LLC, a specialty cardiology reprocessor, announced that the company has received ...

Home May 31, 2022
Home
News | Cath Lab

May 26, 2022 — The U.S. Food and Drug Administration (FDA) has recalled the Dragonfly OpStar Imaging Catheter, and has ...

Home May 26, 2022
Home
News | Cath Lab
April 25, 2022 – NewYork-Presbyterian Hudson Valley Hospital celebrated the launch of its interventional cardiology ...
Home April 25, 2022
Home
Subscribe Now