Boston Scientific has entered into a definitive agreement to purchase all the assets of BridgePoint Medical, the developer of a catheter-based system for treating coronary chronic total occlusions (CTOs).
The FDA and CE-marked proprietary system, which features a CrossBoss CTO crossing catheter and a Stingray CTO re-entry system, is designed to navigate through occluded coronary arteries to allow blood circulation to reach the critical areas of the heart.
New York Presbyterian Hospital and Columbia University Medical Center interventional vascular therapy centre director Dr Marty Leon said the CTO system provides physicians with an important option for treating difficult cases of arterial blockages.
"Many of these patients would have previously been referred for bypass surgery, typically requiring weeks of recovery," Leon said.
"Now, many of them are able to go home within 24 hours."
The terms of Boston Scientific's deal with BridgePoint have not been disclosed.
Boston Scientific chief executive officer Hank Kucheman said the company believes that the BridgePoint's coronary devices will provide its interventional cardiology business a new CTO solution, while its peripheral intervention business offers the TruePath CTO and OffRoad CTO devices.
"This will position the company as the leader in CTO technologies across the cardiovascular system," Kucheman said.
The acquisition, which is subject to customary closing conditions, is expected to be completed in the fourth quarter of 2012.