Boston Scientific Corp. has announced it will acquire Rhythmia Medical, according to a news release.
Rhythmia Medical, based in Burlington, Mass., is a developer of mapping and navigation solutions for use in cardiac catheter ablations and other electrophysiology procedures.
The agreement calls for Boston Scientific to make an upfront payment of $90 million payable upon transaction closing, and up to an additional $175 million in contingent payments based on regulatory, commercial and sales-based milestones through 2017
"The acquisition of Rhythmia Medical is a decisive step forward for Boston Scientific in the electrophysiology ablation business, including the high-growth segment of complex ablation," said Hank Kucheman, CEO of Boston Scientific, in the release. "Electrophysiology is a $2.5 billion market and growing at a double-digit pace, representing a key growth opportunity for us. Rhythmia Medical has a strong and impressive team, and its technology is expected to add innovation and breadth to Boston Scientific's suite of solutions in this strategically important space."
The transaction is expected to close by Oct. 12.
Boston Scientific is headquartered in Natick, Mass.
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