US-based medical technology company Boston Scientific has agreed to acquire intravascular lithotripsy (IVL) device maker Bolt Medical, for about $443m.
Based in Carlsbad, California, Bolt develops an advanced laser-based IVL platform for treating coronary and peripheral artery disease.
Boston Scientific has been a strategic investor in Bolt Medical, with around 26% stake.
Under the terms of the agreement, Boston will pay an upfront payment of around $443m for the remaining 74% stake in Bolt Medical, and $221m upon achieving certain regulatory milestones.
The transaction is expected to be closed in the first half of 2025, subject to customary closing conditions.
Boston Scientific said the acquisition will expand its cardiovascular portfolio with a complementary and differentiated calcium modification platform.
Boston Scientific senior vice president and interventional cardiology therapies president Lance Bates said: “Representing one of the fastest growing medical device segments, intravascular lithotripsy therapy addresses a significant unmet need for patients with complex calcified arterial disease through a minimally invasive approach.
“Bolt Medical is developing a next-generation technology that is highly complementary to our existing portfolio. The addition of this system to our offerings can help us better serve physicians and their patients and provides a platform for future innovation.”
According to Boston Scientific, Cardiovascular diseases are a major cause of death worldwide, commonly due to the narrowing of coronary and peripheral arteries.
The lithotripsy procedure is used to break the hardened masses to help restore blood flow.
Bolt Medical designed its IVL system with a unique application of lithotripsy to break calcium using acoustic pressure waves inside a balloon catheter.
The IVL system also includes visible, directional emitters for consistent energy delivery.
Bolt recently completed the RESTORE ATK and RESTORE BTK clinical trials of the Bolt IVL Above the Knee (ATK) and Below the Knee (BTK) systems.
The studies evaluated the IVL systems for the treatment of peripheral artery disease in patients with moderate to severely calcified lesions.
Data from both clinical studies will be used to support US Food and Drug Administration (FDA) and CE Mark regulatory submissions for the devices.
In December last year, Bolt Medical secured FDA approval to begin the FRACTURE IDE clinical trial in the US to investigate the Bolt IVL Coronary System for coronary arterial disease.
Last year, Boston Scientific agreed to acquire Cortex, a company of healthcare-focused investment firm Ajax Health, for an undisclosed sum.
Cortex is focused on the development of diagnostic mapping solutions to identify triggers and drivers outside of the pulmonary veins that contribute to atrial fibrillation (AF).
