Boston Scientific has agreed to acquire Apama Medical for $300 million
Boston Scientific Corporation has agreed to acquire Apama Medical Inc. for a sum of $300 million.
The acquisition of the privately-held, California-based company will allow Boston Scientific to expand its electrophysiology portfolio, combining its radiofrequency point-by-point solution with Apama’s single-shot balloon ablation technology for the treatment of atrial fibrillation (AF).
“Single-shot pulmonary vein isolation (PVI) ablation is a high growth market segment,” Joe Fitzgerald, president of rhythm management at Boston Scientific, told HCB News. “Our current electrophysiology (EP) portfolio includes a radiofrequency (RF) point-by-point solution, and the Apama technology, upon regulatory approval, will allow us to expand into the single-shot market segment, and ultimately bolster our entire EP portfolio.”
PVI is the current standard form of treatment in AF ablations and is performed using either point-by-point RF-based ablation or single-shot balloon-based ablation.
As part of the agreement, Boston Scientific will acquire Apama’s concept device, the Apama Radiofrequency (RF) Balloon Catheter System, which combines the primary benefits of RF point-by-point and balloon-based ablation approaches, allowing physicians to administer different amounts of energy and shorten procedure times.
Boston Scientific plans to integrate the RF balloon system with its RHYTHMIA HDx Mapping System, the only high density and high resolution map in the industry, to provide physicians with never before seen visualization of the heart during ablation procedures. It also will acquire intellectual property and 40 employees from Apama.
“The Apama RF Balloon System offers benefits to both patients and physicians as its initial clinical results have demonstrated that the technology meets the study endpoints of safety and efficacy, while also offering improvements to procedure efficiency,” Amr Salahieh, the CEO and president of Apama Medical, told HCB News.
The RHYTHMIA HDx Mapping System is available to consumers. The Apama RF Balloon Catheter System is still being studied and is not yet for sale.
An upfront cash transaction of $175 million has already been paid. A maximum of $125 million in contingent payments will be made between 2018 and 2020 based on successes in clinical and regulatory processes.
Completion of the acquisition is expected in the fourth quarter of 2017, subject to customary closing conditions.