Boston Scientific’s Acquisition of Apama: What You Need to Know
Boston Scientific (BSX) announced its deal to acquire Apama Medical and strengthen its electrophysiology portfolio on October 2, 2017. On October 16, 2017, Shifamed (a medical device incubator) announced the completion of the deal for a cash payment of $175 million and contingent payments up to $125 million over between 2018 and 2020, based on clinical and regulatory milestones achievements.
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Brief company details of Apama Medical
Apama Medical is a company in the field of AF (atrial fibrillation), which develops RF (radiofrequency) Balloon Catheter System, which combines the ablation technology benefits with unique features and addresses the AF market’s unmet needs. The system is expected to improve procedural efficiency and ablation therapy delivery control.
Apama Medical raised $13 million in series-C financing in November 2016. A California-based startup, Campbell, is now developing an atrial fibrillation catheter ablation system that incorporates the best of the single-point radiofrequency ablation as well as balloon catheter ablation approaches to treat atrial fibrillation.
Of these two approaches, single-point RF ablation is a procedure with a long treatment duration that is used for multiple types of atrial fibrillation treatment. The balloon catheter ablation is a comparatively faster procedure but offers treatment for limited types of atrial fibrillation conditions.
Abbott Laboratories (ABT) is one of Boston Scientific’s major competitors in the atrial fibrillation market. It expanded its business in the AF market space with the acquisition of St. Jude Medical.