Boston Scientific is acquiring SoniVie, the developer of the catheter-based Tivus intravascular ultrasound system.
With a current equity stake of nearly 10% in SoniVie, Boston Scientific’s transaction includes an upfront payment of approximately $360m for the remaining 90% and up to $180m upon reaching a regulatory milestone.
The move aims to broaden interventional cardiology therapies with ultrasound-based renal denervation therapy to treat hypertension.
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The transaction is expected to be completed in the first half of 2025, subject to customary closing conditions.
On an adjusted basis, the acquisition is projected to be slightly dilutive to Boston Scientific’s adjusted earnings per share (EPS) this year. However, the company noted that it plans to offset this through internal expense efficiencies and trade-offs.
On a GAAP basis, it is anticipated to be more dilutive due to amortisation expenses and charges related to the acquisition, except for a one-time gain recognised at completion related to the company’s pre-existing equity interest in SoniVie.
The investigational technology is tailored to perform renal artery denervation (RDN), which aids in regulating blood pressure by decreasing activity in the renal nerves of the kidney.
This alternative or adjunctive therapy to anti-hypertensive medications could potentially lead to hypertension management, stated the company.
It claims to eliminate the need for anchoring to the artery wall, enabling continuous blood flow for cooling the treatment region.
SoniVie announced encouraging efficacy outcomes from an investigational device exemption (IDE) pilot trial of the system in Israel and the US last year. In addition, the company recently initiated the THRIVE global IDE pivotal trial.
Boston Scientific interventional cardiology therapies senior vice-president and president Lance Bates said: “We believe the addition of the differentiated, ultrasound-based Tivus system can complement our expansive interventional portfolio with a minimally invasive therapy for patients with hypertension and provides opportunity for future advancements in this space.”
Last month, Boston Scientific received CE markings in the European Union for its Farawave NAV ablation catheter to treat paroxysmal atrial fibrillation, and its Faraview software.
