Boston Scientific Corporation has entered a definitive agreement to acquire the remaining 74% stake not yet owned in Bolt Medical, in a deal valued at up to $664m.
The acquisition includes nearly $443m in upfront payment and up to $221m tied to regulatory milestones.
Boston Scientific already holds a 26% equity stake in Bolt Medical, which developed an intravascular lithotripsy (IVL) laser-based platform known as the Bolt IVL system.
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The platform is instrumental in treating coronary and peripheral artery disease by fracturing calcium deposits to restore blood flow.
Boston Scientific initially developed the concept for the Bolt IVL system, which is engineered to fracture calcium using acoustic pressure waves within a balloon catheter.
Boston Scientific president and interventional cardiology therapies senior vice president Lance Bates said: “Representing one of the fastest growing medical device segments, intravascular lithotripsy therapy addresses a significant unmet need for patients with complex calcified arterial disease through a minimally invasive approach.
“Bolt Medical is developing a next-generation technology that is highly complementary to our existing portfolio. The addition of this system to our offerings can help us better serve physicians and their patients and provides a platform for future innovation.”
The transaction is expected to be completed in the first half of this year, pending customary closing conditions.
On an adjusted basis, the acquisition is predicted to have a slight dilutive effect on Boston Scientific’s adjusted earnings per share (EPS) in 2025, which the company plans to neutralise through internal cost efficiencies.
However, the transaction may be more dilutive on a GAAP basis, except for a one-time gain from the company’s pre-existing equity interest in Bolt Medical.
Bolt Medical’s recent completion of the RESTORE ATK and RESTORE BTK pivotal studies of the Bolt IVL above-the-knee (ATK) and below-the-knee (BTK) systems, respectively, to treat peripheral artery disease will support the US Food and Drug Administration (FDA) and CE Mark submissions.
Last month, the FDA approved Bolt Medical’s commencement of the global FRACTURE IDE clinical trial of its IVL coronary system.
Last November, Boston Scientific signed an agreement to acquire Intera Oncology, a Boston-based infusion pump manufacturer.
