Boston Scientific Corporation (NYSE: BSX) announced its second acquisition of the year, targeting privately held Apama Medical Inc. in a deal for $175 million. That’s small potatoes compared with its previously announced deal for Symetis SA, the Swiss maker of transcatheter aortic valve implantation devices, for $435 million.
The Apama transaction consists of $175 million in cash up-front and a maximum of $125 million in contingent payments over the period of 2018-2020 based on achievements of clinical and regulatory milestones.
Based in California, Apama Medical is developing radiofrequency balloon catheter system for the treatment of atrial fibrillation (AF). AF, a heart rhythm disorder estimated to affect more than 33 million people worldwide, is commonly treated with anti-arrhythmic drugs as well as cardiac ablation, which is the process of delivering energy to the areas of the heart muscle causing an abnormal rhythm.
The standard of care in AF ablations is pulmonary vein isolation (PVI). PVI is currently performed using two different technologies: point-by-point radiofrequency-based ablation and single-shot balloon-based ablation.
Apama Medical’s Apama Radio-Frequency Balloon, a single-shot, multi-electrode technology, is designed to combine the primary benefits of both radio-frequency point-by-point and balloon-based ablation approaches, notably the ability to deliver differentiated levels of energy and shortened procedure times.
Initial results of AF-FICIENT, a first-in human study presented at the AF Symposium Annual Meeting in January 2017, demonstrated the Apama RF balloon met the safety and efficacy study endpoints, achieving successful PVI in patients with paroxysmal AF. The Apama RF balloon is currently being studied in clinical trials in Europe to serve as the basis for CE mark approval, which is expected in late 2018.
The acquisition is projected to close during the fourth quarter of 2017.
