Boston Scientific is expected to wrap up a $90 million acquisition of Rhythmia Medical, an electrophysiology ablation company.
Burlington, Mass.-based Rhythmia Medical develops mapping and navigation technologies for use in cardiac catheter ablations and other electrophysiology procedures. The acquisition will allow the companies to wed Rhythmia Medical’s mapping system with Boston Scientific's catheter platform and commercialization capabilities, according to the companies.
Boston Scientific said it expects to begin a limited market launch of the system in 2013 and full market launch in 2014. The mapping system still needs clearance by the FDA and CE Mark approval in Europe.
The agreement calls for an upfront payment of $90 million, payable upon the transaction closing, and up to an additional $175 million in contingent payments based on regulatory, commercial and sales-based milestones through 2017.