Boston Scientific Agrees to Acquire Cortex, Inc.
Deal News | Nov 04, 2024 | HealthQuest Capital Management
Boston Scientific Corporation has announced its definitive agreement to acquire Cortex, Inc., a medical technology company specializing in diagnostic mapping solutions for atrial fibrillation (AF) patients. Cortex's OptiMap System utilizes advanced mapping technology to identify AF sources outside the pulmonary veins, providing physicians with precision needed for effective cardiac ablation procedures. This acquisition will complement Boston Scientific's electrophysiology portfolio, offering an advanced tool for managing complex AF cases. Cortex received FDA clearance for OptiMap in 2023 and completed clinical trials showing significant improvement in outcomes for AF patients. The acquisition, expected to close in the first half of 2025, is anticipated to have minimal impact on Boston Scientific's adjusted earnings due to amortization and acquisition-related charges. The deal signifies a strategic expansion by Boston Scientific in the innovative cardiac treatment landscape.
Sectors
- Medical Technology
- Healthcare
Geography
- United States – Boston Scientific is based in Marlborough, Massachusetts, and Cortex, Inc. is a U.S.-based company, making the U.S. the primary geography for this transaction.
Industry
- Medical Technology – Cortex, Inc. is a medical technology company that develops diagnostic solutions for atrial fibrillation, making this a significant aspect of the article.
- Healthcare – Boston Scientific operates in the healthcare sector, offering products that address a range of complex medical conditions, including cardiovascular diseases.
Financials
- Not disclosed – The specific terms of the acquisition transaction have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Boston Scientific Corporation | Acquirer | Company | A global medical technology company expanding its electrophysiology portfolio. |
| Cortex, Inc. | Target Company | Company | A medical technology company specializing in diagnostic mapping solutions for atrial fibrillation. |
| Ajax Health | Vendor | Company | The parent company of Cortex, Inc., involved in the sale of the company. |
| Nick Spadea-Anello | Person | Person | Global President, Electrophysiology at Boston Scientific. |
| Duke Rohlen | Chief Executive Officer | Person | CEO of Cortex, Inc. |