Boston Scientific Acquiring BridgePoint Medical

Boston Scientific Corporation is acquiring BridgePoint Medical Inc., a privately held company based in Minneapolis, Minnesota. BridgePoint Medical, which develops interventional cardiology technology for access to and treatment of chronic total occlusions (CTOs), has developed a proprietary, catheter-based system to treat coronary CTOs. The transaction is expected to close in the fourth quarter of 2012.

The BridgePoint Medical CTO system—comprised of the CrossBoss CTO Crossing Catheter and the Stingray CTO Re-Entry System—is designed to navigate highly diseased (occluded) coronary arteries and restore healthy blood flow. The system has received both U.S. Food and Drug Administration clearance and the CE Mark, and is currently the only crossing/re-entry system cleared in the United States for use in coronary CTOs.

“The BridgePoint Medical CTO system is an addition to our 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.”

CTOs are defined as arteries that have been occluded for three months or more, though usually there is no real way to tell how long the occlusion has existed. These occlusions 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.

“Complete arterial blockages pose a major challenge in the treatment of coronary artery disease, and this CTO system gives physicians a 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, N.Y. “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.”

“We look forward to welcoming the team at BridgePoint Medical to Boston Scientific,” said Hank Kucheman, CEO at Boston Scientific. “The acquisition of BridgePoint Medical is expected to build upon our 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.”

The transaction is expected to have an immaterial impact on adjusted earnings in 2012 and 2013, and be modestly accretive thereafter. Financial terms of the transaction were not disclosed.

Boston Scientific is based in Natick, Mass., and produces a range of medical devices for various markets.