US major Boston Scientific Corporation (NYSE: BSX) is set to acquire Bolt Medical, Inc., a company founded in 2019 with Boston Scientific’s backing, in which it currently holds a 26% stake. The transaction is structured to include an upfront payment of USD 43 million for the remaining 74% ownership that Boston Scientific does not currently hold, alongside up to USD 221 million linked to regulatory milestones. On a 100% basis before consideration of Boston Scientific’s current equity ownership in Bolt Medical, debt, and other closing adjustments, the transaction price consists of USD 600 million upfront, and up to USD 300 million upon achievement of certain regulatory milestones. The transaction is expected to be completed in the first half of 2025.
Bolt Medical’s Technology and Focus
Bolt Medical is focused on the development of an advanced laser-based platform and boasts an intravascular lithotripsy (IVL) system. This system utilizes sound pressure waves to break up calcified deposits in arteries, specifically designed for the treatment of coronary and peripheral artery diseases. The IVL system represents a significant advancement in the treatment of these conditions, offering a non-invasive and effective solution.
Significance of the Acquisition
The acquisition of Bolt Medical by Boston Scientific underscores the company’s commitment to expanding its portfolio of advanced medical technologies. By integrating Bolt Medical’s IVL system, Boston Scientific aims to enhance its offerings in the treatment of cardiovascular diseases, providing more effective and innovative solutions to healthcare providers and patients.-Fineline Info & Tech
