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Boston Scientific to acquire cryoablation firm
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Boston Scientific announced it will acquire Cryterion Medical Inc. for approximately $202 million in cash.
Since 2016, Boston Scientific has been an investor in the privately-held Cryterion Medical, which is known for developing a single-shot cryoablation platform for the treatment of atrial fibrillation.
"The acquisition of Cryterion Medical enhances our AF ablation procedure offerings, allowing physicians to select a therapeutic option based on clinical preference and specific patient needs," Kenneth Stein, MD, senior vice president and chief medical officer, Rhythm Management and Global Health Policy, Boston Scientific, said in a press release. "We are committed to providing physicians with a comprehensive suite of therapies that lead the way for clinical advancements and address the needs of the increasing population of patients with AF."
According to the release, the Cryterion Medical cryoablation platform uses cryothermal energy to interrupt the irregular electrical signals that can cause AF. Developed with a next-generation balloon catheter, advanced mapping catheter, steerable sheath and enhanced console, the system is designed to streamline overall procedural workflow, enhance maneuverability and improve positioning in challenging anatomy, Boston Scientific stated in the release.
"Initial clinical study results demonstrate that our system has a promising safety profile as well as acute efficacy," Keegan Harper, president and chief executive officer, Cryterion Medical, Inc. said in the release. "We look forward to bringing this advanced cryoablation system to market with the support of Boston Scientific."
According to the release, the Cryterion Medical technology is the subject on an ongoing study expected to be the basis of an application for a CE mark in 2019. Boston Scientific stated it will petition the FDA to greenlight an Investigational Device Exemption study that would be the basis for a future application for U.S. approval.
Disclosures: Harper is an employee of Cryterion Medical Inc. Stein is an employee of Boston Scientific.