Boston Scientific completes Atritech acquisition

Boston Scientific has completed its takeover of Atritech, a move that will expand its offering in the field of structural heart treatments.

The company has finalised the $100 million (61.4 million pounds) transaction, originally announced in January 2011, which sees it purchase all outstanding shares in the Minnesota-based Atritech.

By acquiring the firm, Boston Scientific gains access to its Watchman left atrial appendage closure technology, an atrial fibrillation treatment device that has been available in Europe since 2009.

The deal will also see Boston Scientific offer additional payments of up to $275 million based on the commercial and regulatory performance of Atritech products through to 2015.

Ray Elliott, president and chief executive officer of Boston Scientific, said: "The Atritech acquisition significantly strengthens our product offerings in the fast-growing areas of structural heart therapy and atrial fibrillation, which represent two of our priority growth initiatives."

Last month, it was announced that Boston Scientific has extended its working partnership with fellow device manufacturer Greatbatch Medical until 2015.