Obsidio, Inc. Recently Acquired by Medical Tech Company Boston Scientific
Medical device company Boston Scientific recently announced their acquisition of the privately held company Obsidio, Inc., the latter of which is famous for developing GEM (Gel Embolic Material) technology, which is used for the embolisation of blood vessels within the peripheral vasculature.
The embolisation procedure is minimally invasive, and is intended to either reduce or obstruct blood flow towards a tumour or abnormality in order to stop haemorrhaging, with the aim of reducing the size of both malignant and benign tumours, as well as stabilising venous and arterial malformations.
This GEM technology, which has recently been cleared by the US FDA (Food and Drug Administration), is a proprietary, semi solid material, which is packaged in a form which is ready to use, thereby reducing preparation time which is required for most embolisation procedures. The GEM agent is delivered via a catheter by a physician, and the textural composition enables heightened control of placement within the patient’s anatomy.
“Unlike solid and liquid embolics that can take time to form an obstruction to blood flow, once placed, the GEM technology conforms to the targeted vasculature, immediately creating a barrier,” the company wrote in a statement. “The GEM technology combines benefits of currently available embolics, such as precise control of a solid and malleability of a liquid, to create a unique technology that offers procedural efficiency and a more personalized therapy for patients,” said Peter Pattison, president, interventional oncology and embolization, Peripheral Interventions, Boston Scientific. “This acquisition strengthens our interventional oncology and embolization portfolio with a differentiated solution for physicians and their patients suffering from hemorrhages, cancer and other debilitating conditions.” This transaction is anticipated to be irrelevant to Boston Scientific’s GAAP and adjusted earnings per share as measured by 2022, though the specific terms of the transaction have not been fully disclosed. It is Boston Scientific’s second acquisition within a 3 month window (it bought a majority stake in M.I.Tech for $230M back in June). Analysts also added that it planned to commercialise the GEM tech within the US next year.