Boston Scientific Corp. has announced it will acquire Vessix Vascular, according to a news release.
Vessix Vascular, based in Laguna Hills, Calif., is a developer of a catheter-based renal denervation system for the treatment of uncontrolled hypertension.
The agreement calls for an upfront payment of $125 million, plus additional milestones aggregating a maximum of $300 million over the period between 2013 and 2017.
"Hypertension is a major global healthcare challenge, affecting more than one billion people worldwide," said Mike Mahoney, president and CEO at Boston Scientific. "Renal denervation represents a potential breakthrough therapy for the treatment of uncontrolled hypertension and is an important part of the Boston Scientific growth strategy. The acquisition of Vessix Vascular adds a second generation, highly differentiated technology to our hypertension strategy while accelerating our entry into what we expect to be a multi-billion dollar market by 2020."
Vessix Vascular is the developer of the V2 Renal Denervation System which has received CE mark in Europe. It is an investigational device and not available for use or sale in the United States.
The acquisition is expected to close by the end of November. At that time, Vessix Vascular will become part of the peripheral interventions business at Boston Scientific.
Boston Scientific is headquartered in Natick, Mass.
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