“This will position the company as the leader in CTO technologies across the cardiovascular system.”
It’s been a bit quiet on the M&A front recently, but now Boston Scientific Corporation has announced the signing of a definitive agreement to acquire BridgePoint Medical, Inc., developer of a proprietary, catheter-based system to treat coronary chronic total occlusions (CTOs).
CTOs are coronary arteries, typically occluded for 3 months or longer, that prevent blood circulation to critical areas of the heart. CTO devices are designed to permit endovascular treatment in cases that otherwise might require a patient to undergo invasive intervention, such as coronary artery bypass surgery.
Bridgepoint Medical is a venture backed company, founded as recently as 2007 with the stated goal of designing, developing and commercialising new technologies and techniques to treat challenging coronary artery disease
The BridgePoint Medical CTO system is comprised of the CrossBoss™ CTO Crossing Catheter and the Stingray® CTO Re-Entry System, and is designed to navigate occluded coronary arteries as a means of blood flow restoration. The system has received both U.S. FDA clearance and CE Mark, and is currently the only crossing and re-entry system cleared in the U.S. for use in coronary CTOs. As recently as August Bridgepoint announced the FDA clearance of its device for crossing coronary stenotic lesions with a guidewire prior to PTCA or stenting, news which no doubt encouraged Boston along the acquisition trail. Since then the company has also been granted an IDE to commence a study on use of the system in peripheral vessels.
“Complete arterial blockages pose a major challenge in the treatment of coronary artery disease, and this CTO system gives physicians an important treatment option in these difficult cases,” said Marty Leon, M.D., Director of the Center for Interventional Vascular Therapy at New York-Presbyterian Hospital/Columbia University Medical Center in New York City. “Many of these patients would have previously been referred for bypass surgery, typically requiring weeks of recovery. Now, many of them are able to go home within 24 hours.”
“The BridgePoint Medical CTO system is a compelling addition to our industry-leading suite of cardiology products,” said Kevin Ballinger, president of the Interventional Cardiology Division at Boston Scientific. “This acquisition strengthens our portfolio and demonstrates the Boston Scientific commitment to continued leadership in interventional cardiology.”
“We look forward to welcoming the outstanding team at BridgePoint Medical to Boston Scientific,” said Hank Kucheman, chief executive officer at Boston Scientific. “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. We believe the BridgePoint coronary devices will provide the Boston Scientific Interventional Cardiology business a dedicated CTO solution while the Boston Scientific Peripheral Intervention business offers the TruePath™ CTO Device and OffRoad™ CTO Device. This will position the company as the leader in CTO technologies across the cardiovascular system.”
Source: Boston Scientific Corporation, PR Newswire