NEC member Boston Scientific recently closed a $300 million purchase of a medical device company in California.
Apama Medical Inc. is a private company in California working on developing a new method to treat atrial fibrillation (AF) with a catheter. The device combines two previous methods to treat AF aimed at preventing its causes. In the deal, Apama will receive $175 million up front and the remaining $125 million will be paid as Apama meets regulatory and clinical guidelines. The device is currently in clinical trials in Europe where it has produced positive results.
“The acquisition of Apama further advances our continued investment in the electrophysiology category, and, upon commercialization, would broaden our portfolio of differentiated arrhythmia solutions,” said Joe Fitzgerald, president of Rhythm Management, Boston Scientific. “We are also excited about the ability to integrate the Apama RF balloon system with our RHYTHMIA HDx™ Mapping System to provide physicians with an unprecedented visualization of the heart during ablation procedures.”
The New England Council congratulates Boston Scientific on the acquisition and wishes the company luck in developing innovative treatments for AF. Read more in the Worcester Business Journal and from Boston Scientific.