Boston Scientific agrees purchase deal for Atritech

Boston Scientific has signed a definitive merger agreement that will see it acquire fellow medical device manufacturer Atritech.

The deal is worth up to a potential $375 million (234.4 million pounds), including an upfront fee of $100 million and additional milestone-based payments, with the transaction expected to close during the first quarter of the year.

Atritech is the developer of Watchman, a novel device that closes the left atrial appendage as a means of treating atrial fibrillation patients at risk of ischemic stroke.

It has been CE Mark-accredited since 2009 and is the first medical device that is clinically proven to offer a viable alternative to anticoagulant drugs in treating the disease.

Ray Elliott, president and chief executive officer of Boston Scientific, said: "This is an important acquisition in the fast-growing areas of atrial fibrillation and structural heart therapy, both of which are among our priority growth initiatives."

This comes after the firm agreed a deal earlier this month to acquire Intelect Medical, which manufactures neuromodulation technologies with applications in deep brain stimulation treatments.