Boston Scientific agrees deal to purchase BridgePoint Medical

Boston Scientific has announced that it is acquiring the Minneapolis-based healthcare firm BridgePoint Medical, a manufacturer of devices for the treatment of coronary chronic total occlusions (CTOs).

The transaction is expected to close in the fourth quarter of 2012 and will provide Boston Scientific with commercial access to the BridgePoint Medical CTO system, which has been approved by regulators in both the US and EU.

Comprising the CrossBoss CTO Crossing Catheter and the Stingray CTO Re-Entry System, it is designed to navigate occluded coronary arteries as a means of blood flow restoration and is the only product of its kind available in the US.

It will complement Boston Scientific's existing offerings in this area, including the TruePath CTO device and investigational OffRoad CTO system.

Hank Kucheman, chief executive officer at Boston Scientific, said: "The acquisition of BridgePoint Medical is expected to build upon our rich product portfolio in cardiology and represents an important part of our growth strategy in this critical market."

Earlier this month, the company was granted European CE Mark approval for Precision Plus, the world's first rechargeable spinal cord stimulator device.