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Home Industry News Boston Scientific finalises Asthmatx takeover

Boston Scientific finalises Asthmatx takeover

27th October 2010

Boston Scientific has reported the completion of its previously-announced takeover of the asthma treatment specialist Asthmatx.

The company has paid a total of $193.5 million (122.2 million pounds) to acquire all outstanding shares in Asthmatx, which now becomes an indirect and wholly-owned Boston Scientific subsidiary.

This deal allows Boston Scientific to add numerous medical devices to its portfolio, including the Alair Bronchial Thermoplasty System, a catheter-based therapy for severe persistent asthma that has not been adequately remedied with medication.

It has demonstrated its safety and efficacy profile in clinical trials and has been granted regulatory clearance in the US by the Food and Drug Administration.

Boston Scientific also noted that it is liable to pay up to $250 million in additional fees for the Asthmatx deal, which are dependent upon meeting revenue-based criteria up to 2019.

Last week, the medical device firm expressed confidence in its business prospects after posting positive third quarter fiscal results, highlighting its continued leadership in the drug-eluting stent market.ADNFCR-8000103-ID-800160607-ADNFCR

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