Last week Boston Scientific Corp. signed a definitive agreement to acquire privately held Symetis SA. The Swiss-based structural heart company manufactures transcatheter aortic valve implantation (TAVI) devices for the European and other OUS markets.
The deal is part of Boston Scientific’s strategy to beef up its structural heart product portfolio via intellectual property, R&D efforts and manufacturing capabilities. The market for transcatheter aortic valve replacement is expected to surpass $4 billion by 2020, according to a Boston Scientific presentation on the Symetis transaction.
“The ACURATE family [Symetis’ portfolio] 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 TAVI offerings for varying patient pathologies and anatomy,” said Ian Meredith, M.D., executive vice president and global chief medical officer at Boston Scientific in a company news release. Symetis has two CE-marked TAVR products, but they are not yet available for sale in the United States.
The acquisition is expected to close during the second quarter of this year.