Boston Scientific has completed the acquisition of Sadra Medical of Los Gatos, California, which follows the definitive merger agreement reported on 19 November 2010.
As per the agreement terms, Boston Scientific paid $193m to acquire the remaining 86% of Sadra Medical’s equity not already owned by Boston Scientific.
Sadra Medical claims that it is developing the first fully repositionable device for percutaneous aortic valve replacement to treat patients with severe aortic stenosis.
The low-profile delivery system and introducer sheath are designed to enable accurate positioning, repositioning and retrieval at any time prior to release of the aortic valve implant.
Boston Scientific president and CEO Ray Elliott said that they are pleased to complete the acquisition of Sadra Medical, and look forward to leverage their clinical expertise and existing sales channels in the area of structural heart therapy.
"Structural heart therapy is one of our Priority Growth Initiatives, and this acquisition marks another step toward realigning our portfolio through the execution of these initiatives," Elliott said.