Boston Scientific to acquire medical technology firm IoGyn

Boston Scientific has announced the acquisition of IoGyn, a pre-commercial stage company that develops innovative medical technologies.

The firm is responsible for the creation of Symphion, a next-generation system for hysteroscopic intrauterine tissue removal including fibroids and polyps, which has been approved by the US Food and Drug Administration.

Boston Scientific hopes to pair the product with its own Genesys HTA System for abnormal uterine bleeding to create a compelling set of gynaecologic surgery products, while broadening its offering of minimally-invasive devices.

Prior to the acquisition, Boston Scientific held approximately 28 percent equity ownership in IoGyn. The takeover deal will close in the coming days.

Karen Prange, senior vice-president and president of urology and women's health at Boston Scientific, said: "This new technology platform is designed to address unmet patient and physician needs and we believe it represents a truly differentiated improvement compared to existing technologies in the fast-growing hysteroscopic fibroid removal market segment."

This comes after the firm also announced earlier this week that it has joined Optum Labs as a founding medical device partner, with the aim of pioneering new research into effective treatments for heart failure and related cardiac conditions.