Boston Scientific Corporation has announced the close of its acquisition of Symetis SA, a privately-held Swiss structural heart company focused on transcatheter aortic valve implantation (TAVI) devices. With the completion of the acquisition, Boston Scientific immediately began selling Symetis’s Acurate TA and Acurate neo/TF systems in Europe and in other geographies outside of the USA. Therefore, Symetis is now part of the Boston Scientific Interventional Cardiology division
Prior to this announcement, the two organisations announced a definitive agreement on 30 March 2017 for Boston Scientific to acquire the Symetis business for $435 million in cash. A press release reports that on an adjusted basis, the transaction is expected to be immaterial in 2017, slightly accretive in 2018, and increasingly accretive thereafter. It is also expected to be less accretive (or slightly dilutive, as the case may be) on a GAAP basis, due to amortisation expense and transaction and integration costs.
Ian Meredith, executive vice president and global chief medical officer, Boston Scientific, says: “Adding the Acurate family of valve products to our structural heart portfolio presents us with the opportunity to provide two distinctly different but complementary TAVI platforms enabling implanting physicians and hospitals to treat the broadest range of patients and aortic valve anatomies. This valve offering, along with our left atrial appendage closure device, uniquely position us to advance structural heart solutions for patients while fuelling continued growth for the company.”