Boston Scientific to Acquire BridgePoint Medical
Boston Scientific Corporation (NYSE: BSX) has signed a definitive agreement to acquire BridgePoint Medical, Inc., a privately held company based in Minneapolis, Minnesota. BridgePoint Medical has developed a proprietary, catheter-based system to treat coronary chronic total occlusions (CTOs). The transaction is expected to close in the fourth quarter of 2012 subject to customary closing conditions.
The BridgePoint Medical CTO system is comprised of the CrossBoss^™ CTO Crossing Catheter and the Stingray^® CTO Re-Entry System, and is designed to navigate highly diseased (occluded) coronary arteries as a means of blood flow restoration. The system has received both U.S. Food and Drug Administration clearance and CE Mark, and is currently the only crossing and re-entry system cleared in the U.S. for use in coronary CTOs.
"The BridgePoint Medical CTO system is a compelling addition to our industry-leading suite of cardiology products," said Kevin Ballinger, president of the Interventional Cardiology Division at Boston Scientific. "This acquisition strengthens our portfolio and demonstrates the Boston Scientific commitment to continued leadership in interventional cardiology."
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.