Boston Scientific has entered into a definitive agreement to buy all the assets of Vessix Vascular for an upfront payment of $125m.
Under the acquisition, Vessix Vascular will be integrated into Boston Scientific’s peripheral interventions business which includes products that treat vascular system blockages in carotid and renal arteries and the lower extremities.
Vessix’s commercial product, available in Europe and Australia, includes a catheter-based Vessix Vascular V2 renal denervation system which drives radiofrequency energy to disrupt the renal sympathetic nerves and treat medication-resistant hypertension.
In addition to an upfront payment, Vessix will receive an additional clinical and sales-based milestones of $300m over the period between 2013 and 2017.
Boston Scientific president and chief executive officer Mike Mahoney said, "The acquisition of Vessix Vascular adds a second generation, highly differentiated technology to our hypertension strategy while accelerating our entry into what we expect to be a multi-billion dollar market by 2020."
The company is expecting to close the transaction by the end of November 2012.