Symetis TAVR Buy Not About Throwing Shade On Lotus, BSX Insists
Europe's No. 3 in the transcatheter aortic valve replacement market, Boston Scientific, has inked a $435m deal to acquire its smaller Swiss rival Symetis. The US company bats away skeptics wondering whether the transaction signals Boston Scientific's shaky faith in its own Lotus valve platform, which is currently subject of a major recall. One casualty of the acquisition will be early-stage mitral valve technology company Middle Peak Medical, which Symetis had only bought a month ago.
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The company is recalling all unused Lotus Edge inventory and will stop developing the Lotus platform while shifting resources to support its Acurate neo2 transcatheter aortic valve system. The decision will cost the company up to $300m.
French VC firm Truffle Capital has raised €250 million ($278m) for its new BioMedTech fund. The capital will be used to create 12 new medtech companies.
Boston Scientific is looking ahead to the next-generation Acurate neo2 valve after results of SCOPE I showed worse rates of kidney injury and severe aortic regurgitation in patients treated with the self-expanding Acurate neo valve than in patients treated with Edwards’ Sapien 3 valve.