Boston Scientific plans to acquire Cryterion Medical, a company developing a single-shot cryoablation platform to treat patients with atrial fibrillation (AFib). Already an investor in the company, Boston Scientific will purchase the remaining 65 percent stake for $202 million in up-front cash, according a press release.
The Cryterion Medical platform uses cryothermal energy to interrupt the irregular electrical signals that cause AFib. It includes a balloon catheter, advanced mapping catheter, steerable sheath and enhanced console to improve positioning in treating challenging anatomy.
The device is currently being investigated in a clinical study in Europe, with hopes of gaining CE mark approval in early 2019. Boston Scientific will also seek regulatory approval for the system in the U.S. and plans to submit an application for an investigational device exemption to the FDA, according to the release.
"The acquisition of Cryterion Medical enhances our AF ablation procedure offerings, allowing physicians to select a therapeutic option based on clinical preference and specific patient needs," said Kenneth Stein, MD, Boston Scientific’s senior vice president and chief medical officer of Rhythm Management and Global Health Policy. "We are committed to providing physicians with a comprehensive suite of therapies that lead the way for clinical advancements and address the needs of the increasing population of patients with AF."
The acquisition represents the latest in a series of deals for Boston Scientific, which has purchased companies in the areas of endoscopy, urology, continuous thermal monitoring and ovarian cancer detection since March. In June, there were reports that Stryker was in talks to take over Boston Scientific, but Stryker shot down that possibility with a regulatory filing that stated it wasn’t discussing a merger.