Boston Scientific Bets Big On Monitoring; Buys Preventice For Up To $1.25Bn
The deal is the fourth major acquisition in the remote monitoring market in the last five weeks after Philips acquired BioTelemetry and Capsule and Hillrom bought Bardy Diagnostics.
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Among the company's many milestones in the first quarter, the FDA approved its Therasphere radiation seed device, a major building block of the company's interventional oncology business.
Local Medicare carrier Novitas raised its reimbursement rates for continuous cardiac monitoring, but iRhythm has concluded the rates are still too low and is preparing to discontinue serving this Medicare segment.
Hillrom is reconsidering its planned $375m acquisition of Bardy Diagnostics because of Novitas' plan to cut Medicare reimbursement for extended cardiac monitoring. Bardy is suing to complete the deal.