Boston Scientific agrees takeover of Vessix Vascular

Boston Scientific has announced the acquisition of US-based Vessix Vascular, a move that will strengthen its efforts to penetrate the growing renal denervation market.

The takeover could be worth up to $425 million (267.35 million pounds) and is expected to close by the end of November 2012, providing the company with a new range of options for the treatment of hypertension.

By purchasing Vessix Vascular, Boston Scientific will add to its portfolio the European CE Mark-approved V2 Renal Denervation System, which has received an "outstanding" reception among physicians to date.

Renal denervation uses radiofrequency energy to stimulate the nerves responsible for high blood pressure, with clinical trials demonstrating its effectiveness in treating this common condition.

Mike Mahoney, president and chief executive officer (CEO) at Boston Scientific, said: "The acquisition of Vessix Vascular adds a second-generation, highly-differentiated technology to our hypertension strategy while accelerating our entry into what we expect to be a multibillion-dollar market by 2020."

Mr Mahoney took up the role of CEO of Boston Scientific at the start of the month, following a lengthy transitional period.