Acquisition of Tech Company Devoro Medical Announced By Boston Scientific
Boston Scientific has recently announced that it will acquire Devoro Medical, provider of Wolf’s Thrombectomy Platform.
By using prongs that mimic human fingers, the Wolf technology captures blood clots without using consoles or lyctics, removing and retrieving thrombi from within the arterial and venous systems without
Jeff Mirviss, president and executive vice president of Peripheral Interventions within Boston Scientific, commented:
“The addition of the Wolf platform advances our efforts to ensure physicians have the right tools to
improve procedural efficiencies. Clot management remains a core focus of our business, and upon
commercialisation, this highly differentiated technology will complement and expand our offerings to a full suite of interventional strategies for thromboemboli, which also includes the EkoSonic Endovascular System (EKOS) and the AngioJet Thrombectomy System.”
In 2019, Boston Scientific became a strategic investor in Devoro Medical, and as a result currently holds approximately 16% of the company in equity stakes.
Boston Scientific has now struck a deal to acquire the other 84% of Devoro Medical for the price of $269M, although the former has agreed to pay out up to a further $67M with the caveat that certain clinical and regulatory milestones are cleared.
The Chief Medical Officer of Boston Scientific and Vice President of Clinical Affairs, Technology, Innovation, Peripheral Interventions, Dr. Michael R. Jaff, said his company has plans to accelerate
development of the WOLF platform.
He released the following statement:
“The Wolf platform is a compelling new option for physicians performing thrombectomy procedures and,
importantly, it is designed to target and remove clots without damaging blood vessels, while also minimising blood-loss, which may improve outcomes. We look forward to accelerating the progress of this platform technology so that we can help patients who are dealing with these common, yet challenging health conditions.”
This is the latest acquisition in a series of deals Boston Scientific has conducted this year.
Preventice Solutions, a cardiac wearables company, was acquired by Boston Scientific for $925M in January.
The following March, Boston Scientific announced its agreement to acquire Lumenis LTD’s global surgical business for $1.07B.
Then, in June, cardiac ablation device producer Farapulse was acquired by Boston Scientific for $295M.