MARLBOROUGH, Mass., Dec. 27, 2018 /PRNewswire/ — Boston Scientific Corporation (NYSE: BSX) today announced it exercised its option to acquire th
Source: www.prnewswire.com
Boston Scientific Corp. has exercised its option to acquire the remaining shares of privately-held company Millipede Inc. This agreement will provide Boston Scientific with Millipede’s IRIS Transcatheter Annuloplasty Ring System which is in development for the treatment of patients with severe mitral regurgitation (MR) who are not able to tolerate open-heart surgery. The deal is expected to close in the first quarter of 2019. The initial agreement was signed in January 2018 under which Boston Scientific acquired $90 million in existing and newly-issued Millipede shares. This established agreement also allowed Boston Scientific the option to acquire the company’s remaining shares for $325 million at closing, with a $125 million payment becoming available upon achievement of a commercial milestone.
