Boston Scientific has agreed to acquire mobile health solutions and remote monitoring services provider Preventice Solutions for an upfront cash payment of $925m.
Preventice Solutions provides a portfolio of mobile cardiac health solutions and services ranging from ambulatory cardiac monitors to cardiac event monitors and mobile cardiac telemetry.
The deal is also includes up to an additional $300m in a potential commercial milestone payment.
Since 2015, Boston Scientific has been an investor in Preventice and currently has an equity interest of around 22%. Upon closing, the deal is expected to result in a net payment of around $720m and a milestone payment of up to $230m.
Preventice offers BodyGuardian remote and wearable cardiac monitor products
Preventice product portfolio consists of the BodyGuardian family of remote, wearable cardiac monitors for adult and paediatric patients.
The remote monitors use a fully-integrated and cloud-based platform from an independent diagnostic testing facility, where clinical technicians and artificial intelligence (AI) algorithms deliver insights that may result in improved clinical diagnoses and outcomes.
Part of the Preventice BodyGuardian family, the new BodyGuardian MINI PLUS remote monitoring system offers multiple electrode option to improve rhythm detection. It is designed for use in all modalities of short and long-term monitoring, as per the physician’s requirement.
The BodyGuardian remote monitoring systems are integrated with BeatLogic deep learning algorithms to identify, classify and interpret variations in heart rhythm data with high beat detection sensitivity and positive predictive value.
Boston Scientific rhythm management president and senior vice president said: “This acquisition will provide Boston Scientific with a foothold in the high-growth ambulatory electrocardiography space, which strongly complements our recent entrance into the implantable cardiac monitor market and will serve as an important component of our category leadership strategy in cardiac diagnostics and services – a nearly $2B market anticipated to grow double digits annually.”
Subject to customary closing conditions, the deal is expected to be completed in the middle of this year.
In September 2020, Boston Scientific signed an investment agreement, with an exclusive option to acquire Farapulse, the developer of pulsed field ablation (PFA) system.
