USA- Boston Scientific Corporation has announced the acquisition of Obsidio, Inc., a privately held business that creates Gel Embolic Material (GEM) technology.
The biomedical engineering firm and multinational manufacturer of medical devices didn’t disclose the amount of the deal.
The acquisition “strengthens the company’s interventional oncology and embolization portfolio by adding a distinct embolic technology,” according to a note from RBC Capital Markets analysts.
Boston Scientific intends to commercialize the GEM technology in the United States in 2023, the analysts continued.
The acquisition maintains Boston Scientific’s tuck-in deal strategy. On a July result call, Chief Financial Officer Daniel Brennan stated that tuck-in Mergers and acquisitions (M&A) continue to be the company’s top priority for capital allocation.
The GEM technology, which has recently been approved by the US Food and Drug Administration (FDA), is a semi-solid, unique material packaged in a ready-to-use form, minimizing the preparation time required for many embolization treatments.
Therapeutic embolization is the intentional endovascular closure of an artery or vein.
The preferred embolic agent depends on the desired clinical result as well as the agent’s inherent characteristics and behavior.
Clinical success requires an understanding of the distinctive qualities of various drugs.
Permanent or transient embolic agents are available today. There are several suitable subsets of permanent agents, including liquid agents, particles, coils, detachable plugs, and balloons. Permanent agents are increasingly prevalent.
The GEM agent is administered by the catheter, and its gel-like structure allows for precise placement within the patient’s anatomy.
Unlike solid and liquid embolic, which can take time to establish an obstruction in blood flow, GEM technology molds to the targeted vascular, generating an instantaneous barrier.
Boston Scientific anticipates that the deal will have no impact on its 2022 earnings per share.
The acquisition maintains Boston Scientific’s tuck-in deal strategy. On a July result call, Chief Financial Officer Daniel Brennan stated that tuck-in Mergers and acquisitions (M&A) continue to be the company’s top priority for capital allocation.
Last year, the medical equipment business made five acquisitions, including two for more than $1 billion.
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