Medical technology firm Boston Scientific has purchased remaining stake in US-based Securus Medical Group in a transaction worth about $50m.
Since 2016, Boston Scientific has been an investor in Securus Medical.
The company is acquiring the remaining stake in Securus by paying $40m in cash, and the deal also includes the payment of up to $10m in contingent payments based on regulatory achievements and commercial milestones.
Boston Scientific rhythm management president Joe Fitzgerald said: "The acquisition of Securus further broadens our electrophysiology portfolio and fuels our mission to provide physicians with meaningful innovations that advance patient care.”
Based in Cleveland of Ohio, Securus Medical has developed a thermal monitoring system for the continuous measurement of esophageal temperature.
The firm’s thermal monitoring system is an integrated catheter-based probe and imaging system, which generates real-time images of the temperature of the esophagus.
Securus received 510(k) clearance from the US Food and Drug Administration for the latest generation infrared esophageal temperature monitoring system,
The system, which will be integrated into the Boston Scientific portfolio, is expected to be launched in the US in the first half of 2019.
Securus Medical Group president and CEO Steven Girouard said: "In contrast to current standards of care for esophageal temperature monitoring that measure temperature at one or a few fixed locations and have a slow temporal response, this system continuously reads the temperature of the esophagus from thousands of points and provides physicians with an intuitive 360 degree view that refreshes every second.”
Boston Scientific provides a range of electrophysiology products and services for the diagnosis and management of cardiac rhythm disorders.
In October 2017, the firm acquired Apama Medical, which produces single-shot and multi-electrode catheter technology developed for pulmonary vein isolation to treat atrial fibrillation.
Recently, Boston Scientific also introduced Intellanav ST navigation-enabled and small-tip catheter for precise ablations.
Image: Boston Scientific's Corporate Headquarters in Marlborough, Massachusetts. Photo: courtesy of Boston Scientific Corporation.