Boston Scientific said Thursday that it would pay $435 million in an up-front cash deal to acquire Symetis SA, a privately-held medical device company out of Switzerland.
Symetis’ portfolio of minimally-invasive transcatheter aortic valve implantation devices, otherwise known as TAVI devices, was identified as a significant point of value for Boston Scientific, according to Ian Meredith, global chief medical officer for the Marlborough, Massachusetts-based company.
“The steps we are taking reflect our commitment to being a leader in TAVI and structural heart technologies and over the long-term, as we broaden our portfolio and pipeline to address the needs of our global health providers and their patients,” he said.
Along with Boston Scientific’s own line of heart devices, such as the Lotus heart valve system, Meredith said the “compelling combination of technologies will allow us to provide interventional cardiologists and cardiac surgeons with multiple TAVI offerings for varying patient pathologies and anatomy.”
Boston Scientific, which is one of the state’s largest employers with over 7,100 in-state workers, said the deal is expected to close in the next few months.
The company’s purchase of Symetis complements its recent $75 million acquisition of Neovasc, an advanced biological tissue business that also makes heart devices.
“We are excited to be joining Boston Scientific,” Jacques R. Essinger, CEO of Symetis, said in a statement. “We have great respect for the company’s legacy and strong leadership in interventional cardiology, and we look forward to being part of driving further innovation across its diversified portfolio.”
Boston Scientific expects its deal for Symetis to be “immaterial” to its adjusted earnings per share in 2017, “slightly accretive” in 2018, and “increasingly accretive” in 2019 and beyond.

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