Boston Scientific has completed the acquisition of medical devices firm Claret Medical for an upfront cash payment of $220m.
The terms of the agreement, which was signed by the companies last month, also included up to $50m as a potential reimbursement-based milestone payment.
Claret Medical has reached the milestone as it has obtained new technology add-on payment (NTAP) designation for its Sentinel Cerebral Embolic Protection System.
According to Boston Scientific, the designation is awarded to new medical devices that are found to substantially improve the diagnosis or treatment of Medicare beneficiaries.
Granted by the US Centers for Medicare and Medicaid Services (CMS), the NTAP for the Sentinel System will be effective from 1 October this year.
Boston Scientific Interventional Cardiology president Kevin Ballinger said: “The Sentinel System is an exciting platform technology designed to reduce the risk of procedure-related stroke in TAVR and other left-heart and endovascular procedures, and is an increasingly important consideration for patients and physicians as the TAVR indication expands to treat a younger patient population.
“The recent CMS NTAP designation underscores the clinical value of the Sentinel System and will allow for accelerated adoption of this adjunctive therapy amongst structural heart centres.”
The Sentinel System secured the European CE-Mark in 2014 and the US Food and Drug Administration (FDA) approval last year.
It is said to be the only commercially available system for protection against the risk of stroke in TAVR, a minimally–invasive procedure performed to replace the aortic valve in patients with severe aortic stenosis.