Boston Scientific Corporation announced on Thursday a definitive agreement to acquire the TAVR device company Symetis SA for $435 million in upfront cash.

"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," Dr. Ian Meredith, executive VP and global CMO at Boston Scientific, said in a statement.

Symetis' portfolio includes the ACURATE TA and ACURATE neoTF valve systems that treat high-risk patients with severe and symptomatic aortic valve stenosis. Those are currently sold in Europe and other countries outside the U.S.
The company is working on developing its next-generation valve system called the ACURATE neo/AS. The valve is currently be testing in a clinical trial, and if it yields positive results, that will serve as the basis for CE mark application.

This acquisition follows the deal Boston Scientific closed in December to purchase assets of Neovasc Inc. for $75 million. Neovasc products include a mitral bioprosthesis valve under development called Tiara, and Neovasc Reducer for the treatment of refractory angina.

The acquisition of Symetis is expected to close during the second quarter of this year. The transaction is anticipated to be immaterial this year, slightly accretive in 2018 and increasingly accretive thereafter.

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