Type of information: Company acquisition
Acquired company: Symetis (Switzerland)
Acquiring company: Boston Scientific (USA - MA)
Amount: $435 million
Terms: • On March 30, 2017, Symetis announced that it has agreed to be acquired by Boston Scientific for $435 million in an all cash, up-front payment. Following the purchase agreement reached with Boston Scientific, the IPO launched on 20 March 2017 by Symetis on Euronext Paris, very well received by the investment community and which was originally expected to be completed on 31 March 2017, has been halted. The acquisition of Symetis by Boston Scientific is projected to close during the second quarter of 2017, subject to customary closing conditions.
Details: Symetis is a medical technology company specializing in the development, manufacturing and marketing of percutaneous heart valve replacement solutions for the treatment of severe cardiac valve conditions. The acquisition of Symetis by Boston Scientific will allow the company to extend its reach and expand the treatment offerings for patients with aortic valvular heart disease worldwide. The combination of Symetis’ ACURATE valves with the Boston Scientific Lotus™ valve platform, will also enable interventional cardiologists and cardiac surgeons to address varying patient pathologies and anatomies with two complementary and compelling technologies. The company generated revenues of CHF 38.4 million in 2016. Symetis' corporate headquarters in Ecublens, Switzerland and its products are produced in Switzerland and Brazil.
Related: Medical devices Cardiovascular diseases