As we reported in our Medical Technology: Year In Review 2017, the medical device space has attracted considerable investment from both strategic acquirers and private equity and venture capital firms over the past year – and as we head into 2018, that brisk pace shows no sign of slowing down.
During Boston Scientific’s 4Q:17 earnings call, where the company reported sales that beat estimates as well as in-line EPS, CEO Mike Mahoney was asked whether M&A would continue to be a priority for the company in the next year. In addition to answering in the affirmative and discussing their current venture portfolio, he noted that the company would have approximately $500 million available to put toward strategic uses in the second half of the year.
We’ve summarized Boston Scientific’s recent M&A and private placement history below, which displays a mix of innovative technologies and their emphasis on the cardiac space:
| Boston Scientific’s LTM Investment History | |||||
| Date | Target | Transaction Type | Size ($M) | Sector | Technology |
| Jan-24-2018 | Millipede Inc. | Private Placement | 90.0 | Cardiovascular | Developing a transcatheter, semi-rigid, complete annuloplasty ring for the treatment of mitral and tricuspid regurgitation. |
| Oct-02-2017 | Apama Medical, Inc. | Merger/Acquisition | 300.0 | Cardiovascular | Developing novel catheter ablation technology for atrial fibrillation. |
| Aug-28-2017 | SetPoint Medical Corporation | Private Placement | 30.0 | Autoimmune Disease | Developing implantable bioelectronic devices to treat inflammatory diseases. |
| Aug-23-2017 | Channel Medsystems, Inc. | Private Placement | 14.1 | Gynecology | Developing cryoablation delivery technologies for endometrial ablation. |
| Aug-03-2017 | Neuros Medical, Inc. | Private Placement | 22.6 | Neurology | Developing a neuromodulation technology for chronic pain. |
| Jul-17-2017 | Amphora Medical, Inc. | Private Placement | 35.5 | Urology | Developing a cystoscopic technology for the treatment of overactive bladder. |
| Mar-30-2017 | Symetis SA | Merger/Acquisition | 435.0 | Cardiovascular | Develops and markets minimally-invasive transcatheter aortic valve implantation (TAVI) devices. |
| Feb-28-2017 | Corindus Vascular Robotics, Inc. | Private Placement | 45.0 | Cardiovascular | Markets a system that enables remote delivery and manipulation of coronary guidewires and balloon/stent catheters during percutaneous coronary and vascular interventional procedures. |
| Source: CapitalIQ | |||||
We’ll be watching closely as their strategic efforts develop.
Posted: February 02, 2018
