US-based medical solutions provider Boston Scientific has entered a definitive agreement to purchase Switzerland-based medical technology company Symetis for $435m.
The acquisition is expected to aid Symetis in expanding its treatment offerings for aortic valvular heart disease patients.
Symetis' portfolio includes the valve systems ACURATE TA and ACURATE neo/TF developed for the treatment of high-risk patients with severe and symptomatic aortic valve stenosis.
The combination of the ACURATE valves with Boston Scientific's complementary Lotus valve platform will allow the firms to address a variety of patient pathologies and anatomies.
Boston Scientific executive vice-president and global chief medical officer Ian Meredith said: "The ACURATE family of valve products is strongly complementary to our cornerstone Lotus valve platform, and this compelling combination of technologies will allow us to provide interventional cardiologists and cardiac surgeons with multiple transcatheter aortic valve implantation (TAVI) offerings for varying patient pathologies and anatomy."
Another valve system ACURATE neo/AS is also being developed by Symetis and is currently under evaluation in a clinical trial.
Symetis ceased its initial public offering launched on 20 March this year, after reaching the purchase agreement with Boston Scientific.
Symetis chief executive officer Jacques Essinger said: "The IPO that we were pursuing until yesterday on Euronext Paris was meant to give Symetis the means to commercially expand beyond Europe and to further grow into the exciting field of structural heart.
"However, as of today, the company is taking another path by joining Boston Scientific."
Subject to customary closing conditions, the transaction is estimated to be complete by the second quarter of this year.