Boston Scientific Buys Claret Medical

The deals keep coming from Boston Scientific Corp. (NYSE: BSX). The medical device maker announced its sixth deal so far this year on July 20. The latest target is privately held Claret Medical, Inc., based in Santa Rosa, California.

Claret developed and commercialized the Sentinel Cerebral Embolic Protection System, which is used to protect the brain during certain interventional procedures, primarily during transcatheter aortic valve (TAV) replacement. It is the only device to protect patients against the risk of stroke. The Sentinel System received CE Mark in 2014 and FDA clearance in 2017.

Boston Scientific agreed to pay $220 million in cash, as well as a potential reimbursement-based milestone payment of up to $50 million. The transaction is expected to be immaterial to adjusted EPS in 2018, accretive in 2019 and increasingly accretive thereafter.

This deal brings the company’s six 2018 acquisitions to $918 million, excluding the EMcision acquisition announced in March that did not disclose a price.

BSX announced just two deals in all of 2017, with a combined total of $610 million. That March, it paid $435 million to buy Swiss device maker Symetis SA, which developed a minimally invasive TAV implant to treat high-risk patient suffering from severe and symptomatic aortic valve stenosis.

The Claret Medical acquisition adds value to its suite of surgical products to treat TAV patients.

 

 

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