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June 25, 2021updated 29 Jun 2021 8:49am

Boston Scientific exercises right to acquire Farapulse for $295m

In 2014, Boston Scientific invested in Farapulse and currently holds an equity stake of nearly 27%. 

Boston Scientific has exercised its right to acquire the remaining 73% shares in medical device company Farapulse for an upfront payment of nearly $295m.

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In 2014, Boston Scientific invested in Farapulse and currently owns equity shares of about 27%.

The company signed an investment agreement with an exclusive option for acquisition in September last year.

The latest deal also comprises clinical and regulatory milestone payments of up to $92m as well as revenue-based payments for the next three years.

Boston Scientific noted that the Farapulse acquisition will support its current electrophysiology portfolio by adding the FARAPULSE Pulsed Field Ablation (PFA) System.

PFA is a non-thermal ablation system indicated to treat atrial fibrillation (AF) as well as other cardiac arrhythmias.

Boston Scientific rhythm management and global health policy senior vice-president and chief medical officer Kenneth Stein said: “The emerging field of PFA has the potential to alter the future of ablation therapy and has shown the promise of improvements in both safety of cardiac ablations for patients and efficiency and ease-of-use of these procedures for physicians.

“The FARAPULSE PFA System is intended to enable physicians to precisely ablate cardiac tissue while minimising procedural complications, and real-world and clinical evidence from trials throughout Europe have demonstrated encouraging, positive results.”

In January, Farapulse obtained CE mark for the FARAPULSE PFA System, making it the first company to market such a device in Europe and other CE mark accepting countries.

The company commenced an investigational device exemption trial, named ADVENT, in March in the US and has enrolled more than 100 patients so far.

The prospective, randomised trial is analysing the FARAPULSE PFA System as against standard-of-care ablation in paroxysmal or intermittent AF patients.

Freedom from AF at one year after a single ablation procedure is the trial’s primary goal.

Subject to necessary closing conditions, the acquisition is expected to conclude in the third quarter of this year.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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