Boston Scientific purchases Neovasc’s advanced biological tissue assets

Boston Scientific has announced the acquisition of certain manufacturing assets and capabilities of the advanced biological tissue business of the specialty medical device company Neovasc.

The deal will see Boston Scientific pay $75 million (58.98 million pounds) for the assets, as well as a 15 percent stake in Neovasc, which develops, manufactures and markets products for the growing cardiovascular marketplace.

Neovasc's advanced biological tissue division produces elements used in transcatheter heart valves, including Boston Scientific's Lotus Valve System. The acquired assets will be integrated into Boston Scientific's structural heart business, for use in the manufacturing of the Lotus valve and future heart valve technologies.

Ed Mackey, executive vice-president for operations at Boston Scientific, said: "The vertically integrated operational capabilities resulting from this acquisition will strengthen our structural heart pipeline and immediately benefit our Lotus valve platform."

Other Neovasc offerings include the developmental Tiara technology, designed for the transcatheter treatment of mitral valve disease, and the Neovasc Reducer technology for the treatment of refractory angina.

Closing this deal will help Boston Scientific increase Lotus' EU market share, while also laying the foundations for the technology's planned US launch in 2017.

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