Symetis, a Ecublens, Switzerland-based medical technology company specializing in the development, manufacturing and marketing of percutaneous heart valve replacement solutions for the treatment of severe cardiac valve conditions, has agreed to be acquired by Boston Scientific (NYSE: BSX), for $435m.
Following the agreement, the IPO launched on 20 March 2017 by Symetis on Euronext Paris, which was originally expected to be completed on 31 March 2017, has been halted. The acquisition is projected to close during the second quarter of 2017, subject to customary closing conditions.
The deal of Symetis by Boston Scientific will allow the company to extend its reach and expand the treatment offerings for patients with aortic valvular heart disease worldwide. The combination of Symetis’ Acurate valves with the Boston Scientific Lotus™ valve platform will also enable interventional cardiologists and cardiac surgeons to address varying patient pathologies and anatomies with two complementary and compelling technologies.
Founded in 2001 and led by Jacques R. Essinger, Ph.D. and CEO, and Dominik Ellenrieder, Chairman, Symetis is a medical technology company specializing in the development, manufacturing and marketing of percutaneous heart valve replacement solutions for the treatment of severe cardiac valve conditions. Symetis’ products, ACURATE TA™ and ACURATE neo/TF, and their delivery systems are based on proprietary design and delivery technologies and are marketed and sold in key markets in Europe and in other geographies.
The company generated revenues of CHF 38.4m in 2016.