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January 26, 2018

Boston Scientific signs deal for Millipede acquisition

Boston Scientific has closed an investment and signed an acquisition option agreement, focusing on heart valve repair with Millipede.

Boston Scientific has closed an investment and signed an acquisition option agreement, focusing on heart valve repair with Millipede.

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What is driving M&A activity in the MedTech space?

The COVID-19 pandemic has left an indelible mark on the MedTech landscape. Changes in how healthcare is delivered, and new treatment modalities, are creating opportunities and challenges for both new and traditional players. As companies sought out opportunities during the pandemic-driven downturn, the number and value of mergers and acquisition deals in the MedTech space increased. Companies worked to reposition themselves in the newly aligned healthcare world, but with further economic turmoil expected: will these trends be repeated? And what tech areas should firms be looking to expand their capabilities into? GlobalData’s report, “Themes driving M&A activity in the Medical Devices Sector, Q1 2022,” draws upon GlobalData’s extensive MedTech deals databases, highlighting major trends and hot themes in M&A activity. This report will assist you in:
  • Understanding value and volume trends in M&A from Q1 2018 to Q1 2022
  • Understanding regional trends in M&A activity
  • Understanding which medical device sectors are leading M&A activity, and which are lagging
  • Understanding the leading tech trends in Q1 2022 M&A activity
  • Knowing the key deals that occurred during Q1 2022
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Under the agreement, Boston Scientific has bought certain outstanding and newly issued shares of Millipede for a total consideration of $90m.

The terms further provide Boston Scientific with an option to acquire the remaining shares of Millipede for an additional $325m at any time before the completion of the first clinical trial of the firm’s IRIS Transcatheter Annuloplasty Ring System.

Upon completion of this study, Millipede exercises the option to compel Boston Scientific to purchase its remaining shares. The option period of both the companies expires by the end of 2019.

Millipede is further eligible for a $125m payment upon achieving a commercial milestone.

“Restoring mitral annular dimensions via a transcatheter mitral annuloplasty ring will be a crucial component to effective, minimally invasive improvement of mitral valve function.”

Boston Scientific executive vice-president and global chief medical officer Ian Meredith said: “Intervening with the least invasive approach at earlier stages of severe mitral regurgitation has the greatest opportunity to alter the natural history of the disease and the progression to heart failure.

“We believe that restoring mitral annular dimensions via a transcatheter mitral annuloplasty ring will be a crucial component to effective, minimally invasive improvement of mitral valve function for appropriately indicated patients.”

Developed to treat severe mitral regurgitation (MR), the Millipede IRIS annuloplasty ring is delivered through a transcatheter-transseptal delivery system to repair and minimise the size of the dilated mitral annulus.

Millipede board chairman Joe Cunningham said: “We saw an opportunity to bring the gold-standard surgical approach to repairing the mitral valve to an underserved population of severe MR patients with transcatheter techniques, and are excited Boston Scientific also sees the unique abilities of the IRIS transcatheter ring.”

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Free Report
img

What is driving M&A activity in the MedTech space?

The COVID-19 pandemic has left an indelible mark on the MedTech landscape. Changes in how healthcare is delivered, and new treatment modalities, are creating opportunities and challenges for both new and traditional players. As companies sought out opportunities during the pandemic-driven downturn, the number and value of mergers and acquisition deals in the MedTech space increased. Companies worked to reposition themselves in the newly aligned healthcare world, but with further economic turmoil expected: will these trends be repeated? And what tech areas should firms be looking to expand their capabilities into? GlobalData’s report, “Themes driving M&A activity in the Medical Devices Sector, Q1 2022,” draws upon GlobalData’s extensive MedTech deals databases, highlighting major trends and hot themes in M&A activity. This report will assist you in:
  • Understanding value and volume trends in M&A from Q1 2018 to Q1 2022
  • Understanding regional trends in M&A activity
  • Understanding which medical device sectors are leading M&A activity, and which are lagging
  • Understanding the leading tech trends in Q1 2022 M&A activity
  • Knowing the key deals that occurred during Q1 2022
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

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