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Boston Scientific to Acquire Vessix Vascular
Date:11/8/2012

LAGUNA HILLS, Calif., Nov. 8, 2012 /PRNewswire/ -- Vessix Vascular, Inc., a developer of novel percutaneous radiofrequency (RF) balloon catheter technology for the treatment of hypertension, announced today that it has signed a definitive agreement to be acquired by Boston Scientific Corporation (NYSE: BSX). The acquisition is expected to close by the end of November 2012. 

The agreement calls for an upfront payment of $125 million, plus $300 million in additional clinical and sales-based milestones aggregating a maximum value of the transaction of $425 million.

"Hypertension is a major global healthcare challenge, affecting more than one billion people worldwide," said Mike Mahoney, president and chief executive officer at Boston Scientific. "Renal denervation represents a potential breakthrough therapy for the treatment of uncontrolled hypertension and is an important part of the Boston Scientific growth strategy. The acquisition of Vessix Vascular adds a second generation, highly differentiated technology to our hypertension strategy while accelerating our entry into what we expect to be a multi-billion dollar market by 2020."

Hypertension is the leading attributable cause of death worldwide.  Despite the widespread availability of antihypertensive medications, the blood pressure of many patients remains high and uncontrolled.  Renal denervation is an emerging, catheter-based therapy for medication-resistant hypertension that uses radiofrequency energy to disrupt the renal sympathetic nerves whose hyperactivity leads to uncontrolled high blood pressure.  Renal denervation has been demonstrated in published clinical studies to significantly reduce systolic blood pressure.

Raymond W. Cohen, chief executive officer at Vessix Vascular said, "We are confident that the combination of the Vessix Vascular renal denervation technology with the Boston Scientific broad global clinical and commercial scale will result in a n
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SOURCE Vessix Vascular, Inc.
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