Boston Scientific has entered into a definitive agreement to buy a developer of next-generation mapping and navigation systems, Rhythmia Medical.
US based Rhythmia Medical’s mapping and navigation technologies are used with catheter ablation and minimally invasive electrophysiology procedures to treat various heart rhythm disorders including atrial flutter and atrial fibrillation.
Boston Scientific chief executive officer Hank Kucheman said electrophysiology is a $2.5bn market and growing at a double-digit pace, representing a key growth opportunity for the company.
"The acquisition of Rhythmia Medical is a decisive step forward for Boston Scientific in the electrophysiology ablation business, including the high-growth segment of complex ablation," Kucheman added.
Upon closing of the transaction on 12 October 2012, Rhythmia will receive $90m as an upfront payment and additional $175m in contingent payments based on regulatory, commercial, and sales-based milestones through 2017.
Rhythmia Medical co-founder and co-chief executive officer Doron Harlev said the company’s mapping technology is expected to enhance physician treatment options and facilitate and improve long and complicated procedures.
"Our system is expected to become a very promising tool for physicians to treat patients with complex cardiac arrhythmias," Harlev added.
"We are excited to combine our mapping system with Boston Scientific’s strong catheter platform and commercialization capabilities."
Boston Scientific said, upon receiving the US Food and Drug Administration and CE mark approvals, it will begin a limited market launch of the mapping system in 2013 and full market launch in 2014.