Boston Scientific Corp said it has agreed to pay $90 million to purchase privately held Rhythmia Medical Inc to gain access to its three dimensional navigation system to assist doctors in performing complex heart procedures on patients with dangerously irregular heart rhythms. The Rhythmia Medical next generation mapping and navigation system, which is awaiting U.S. approval, would be used in catheter ablations and other electrophysiology procedures on patients suffering from atrial fibrillation and other heart rhythm disorders, Boston Scientific said."Electrophysiology is a $2.5 billion market and growing at a double-digit pace, representing a key growth opportunity for us," Boston Scientific Chief Executive Hank Kucheman said in a statement.In addition to the $90 million payment upon expected closing of the deal later this week, Rhythmia would be entitled to up to an additional $175 million in potential milestone payments through 2017, Boston Scientific said.The company expects the net impact of the transaction on its adjusted earnings per share to be immaterial for 2013 and 2014 and to be break-even or add to earnings after that.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. Shares of BSX fell by 0.17% or $-0.01/share to $5.75. In the past year, the shares have traded as low as $4.79 and as high as $6.41. On average, 13297200 shares of BSX exchange hands on a given day and today's volume is recorded at 4428979.
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