Boston Scientific has signed a definitive agreement to buy medical solutions maker Cryterion Medical for a cash consideration of $202m.
Boston Scientific has been an investor since Cryterion was founded in 2016 and the latest agreement will allow the medical devices company to take over the remaining 65% stake.
Cryterion Medical’s portfolio includes a single-shot cryoablation device being developed to treat atrial fibrillation (AF). The platform leverages cryothermal energy to block the irregular electrical signals that can cause AF.
The device features a next-generation balloon and advanced mapping catheters, steerable sheath, and an improved console. It is designed to optimise overall procedural workflow, increase manoeuvrability and enable better positioning in difficult anatomy.
The acquisition will allow Boston Scientific to provide cryothermal as well as radiofrequency (RF) single-shot, balloon-based ablation therapies.
Boston Scientific Rhythm Management and Global Health Policy senior vice-president and chief medical officer Kenneth Stein said: “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.
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“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 company’s portfolio for cardiac rhythm disorders includes various electrophysiology (EP) products and services for the diagnosis and management of the heart conditions.
Cryterion Medical is currently evaluating the cryoablation system in a European clinical study.
Boston Scientific plans to submit applications for regulatory approvals in both Europe and the US, and is planning a study in American patients next year.
Cryterion Medical president and CEO Keegan Harper said: “Initial clinical study results demonstrate that our system has a promising safety profile as well as acute efficacy. We look forward to bringing this advanced cryoablation system to market with the support of Boston Scientific.”