Boston Scientific Corporation, the company known for the development of the innovative drug-eluting stent Taxus Stent, today announced the acquisition of Obsidio, a privately-held medical device company that has developed an injectable solid biomaterial platform technology and the Gel Embolic Material technology, which is used for controlled, precise and durable peripheral vascular embolization.
The financial terms of the transaction were not disclosed to the public. The deal is expected to be immaterial to Boston Scientific’s GAAP and adjusted earnings per share in 2022, according to the company’s latest press release.
Recently approved by the U.S. Food and Drug Administration (FDA), Boston’s Gel Embolic material technology (GEM technology) is a semi-solid, proprietary material packaged in a ready-to-use form. Unlike solid and liquid embolic, Boston’s GEM technology is designed to reduce the preparation time required for many embolization procedures.
Founded in June 1979, and based in Massachusetts, Boston Scientific is a biomedical engineering company and a manufacturer of medical devices used in interventional medical specialties. The company has been busy beefing up R&D and product offerings. It made a number of strategic acquisitions in the past years. These include specialist companies such as Imaging Systems (intravascular ultrasound), Vesica Medical (urology), SCIMED (cardiovascular), EP Technologies (cardiac ablation controllers), Meadox (textile vascular prostheses), MinTec (abdominal aortic aneurysm grafts), Symbiosis Corporation (specialty medical product manufacture), and Target Therapeutics (on neurology).
In May 2017, Boston bought Symetis SA, a developer of minimally invasive transcatheter aortic valve implantation devices. And in October 2017, it acquired Apama Medical Inc. for up to $300 million. In June 2022, the company acquired South Korea-based M.I.Tech Co., Ltd. for around $230 million.