“M.I.Tech is an innovator in nonvascular stent development, with product offerings that complement our existing stent portfolio.”
The deal will boost Boston Scientific’s electrophysiology and structural heart product portfolios.
Nearly 32,000 stent systems have been recalled in the United States.
The company was accused of hiding serious health risks related to implantation of its transvaginal surgical mesh products.
The deal involves an upfront cash payment of $925 million, followed by a potential $300 million commercial milestone payment.
All commercial, clinical, R&D and manufacturing activities surrounding the product will end.
The company developed the device as an alternative to reusable duodenoscopes, enabling the use of a new and sterile product for each procedure.
Overall activity in deals jumped 11% in North America.
Manufacturers of the surgical mesh devices have not provided reasonable assurances of safety and effectiveness, according to the agency.
The companies are finally putting to bed all outstanding patent disputes.