Boston Scientific has entered into a definitive agreement to buy all the assets of US-based Rhythmia Medical, a developer of next-generation mapping and navigation systems.
The mapping and navigation technologies, when used along with catheter ablation procedures, are used to treat various heart rhythm disorders including atrial flutter and atrial fibrillation.
In addition, the technologies can be used in minimally invasive electrophysiology procedures, which test the electrical conduction system of the heart to assess electrical activity and conduction pathways.
Boston Scientific chief executive officer Hank Kucheman said electrophysiology was a $2.5bn market and growing at a double-digit pace, representing a key growth opportunity for the company.
"The acquisition of Rhythmia Medical is a decisive step forward for Boston Scientific in the electrophysiology ablation business, including the high-growth segment of complex ablation," Kucheman added.
Upon closing of the transaction on 12 October, Rhythmia will receive $90m as an upfront payment and additional $175m in contingent payments based on regulatory, commercial, and sales-based milestones through 2017.
Rhythmia Medical co-founder and co-chief executive officer Doron Harlev said the company's mapping technology is expected to enhance physician treatment options and facilitate and improve long and complicated procedures.
"Our system is expected to become a very promising tool for physicians to treat patients with complex cardiac arrhythmias," Harlev added.
"We are excited to combine our mapping system with Boston Scientific's strong catheter platform and commercialisation capabilities."
Boston Scientific said upon receiving the US Food and Drug Administration and CE mark approvals, it will begin a limited market launch of the mapping system in 2013 and full market launch in 2014.
Image: Boston Scientific's Corporate Headquarters in Natick, Massachusetts, US. Photo: courtesy of Boston Scientific.