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Boston Scientific Hooks In Millipede, But Still Trailing Behind In Mitral Valve Race

 
• By Tina Tan

Boston Scientific is pumping money into the high-potential mitral valve repair space by making a strategic investment in Millipede, as well as signing an acquisition option agreement that could be worth nearly half a billion dollars. However, its cardiovascular rivals are already some distance ahead in this space.

Playing catch-up to its other cardiovascular device rivals, Boston Scientific Corp. is investing in the mitral valve repair space by putting money into Millipede, a California start-up that has developed the IRIS transcatheter annuloplasty ring system.

Boston Scientific paid $90m for a stake in Santa Rosa-based Millipede. Additionally, the cardiovascular company has taken an option to acquire the rest of Millipede at any time prior to...

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