As a result of Boston Scientific‘s existing equity and debt positions in Intelect Medical, the total cash payment by Boston Scientific was approximately $60m, which was funded with cash on hand.
Intelect Medical is developing the Guide DBS programming system, the system to enable clinicians to visualize stimulation fields in the brain and provide more precise targeting of therapy.
The technology combined with Boston Scientific’s Vercise DBS System is expected to provide cliniciansimproved treatment for their patients.
The Vercise DBS System is a neurostimulation device designed to deliver electrical signals to specific areas within the brain through individual lead contacts that allow a more tailored amount of current flow based on patient needs.
Boston Scientific president and CEO Ray Elliott said that the acquisition represents additional progress in their strategy to realign Boston Scientific’s portfolio through the execution of their Priority Growth Initiatives.
