Boston Scientific to buy Swiss medical device maker Symetis

Boston Scientific Corp today struck a deal to buy privately held Swiss medical device maker Symetis SA for $435 million in cash, in order to expand its minimally invasive heart devices business.

Boston Scientific said that the acquisition will expand its treatments for patients with valvular heart disease and strengthen its position in structural heart globally.

Founded in 2001 and based in Ecublens, Switzerland, Symetis develops heart valve replacement devices and systems for patients suffering from severe heart diseases.

The company's products, Acurate TA and ACurate neo and their delivery systems, are marketed and sold in key markets in Europe and in other markets.

Symetis, which is backed by a syndicate of blue chip venture capital firms, employs around 300 people and has manufacturing sites in Ecublens and Belo Horizonte, Brazil.

Boston Scientific has recently expanded its investment in structural heart by acquiring some manufacturing assets of Neovasc Inc.

"The steps we are taking reflect our commitment to being a leader in TAVI and structural heart technologies now and over the long-term, as we broaden our portfolio and pipeline to address the needs of our global health care providers and their patients," said Ian Meredith, MD, executive vice president and global chief medical officer, Boston Scientific.

"The Acurate family 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," he added.