Boston Scientific has completed the acquisition of Atritech of Plymouth, Minnesota, following the signing of a definitive merger agreement on 19 January 2011.
Additional payments of up to $275m are contingent upon achievement of specified regulatory and revenue-based criteria through 2015.
Atritech’s Watchman Left Atrial Appendage Closure Technology gives Boston Scientific an innovative product designed for atrial fibrillation patients with high stroke risk.
The Watchman device is designed to close the left atrial appendage, thereby preventing clots within the appendage from being dislodged into circulation.
Boston Scientific president and CEO Ray Elliott said the Atritech acquisition strengthens their product offerings in the fast-growing areas of structural heart therapy and atrial fibrillation, which represent two of their Priority Growth Initiatives.