Boston Scientific Gulps Down Claret After Cryterion, In Double-Whammy July
Boston Scientific has inked a deal of up to $270m for embolic protection system developer Claret Medical, marking its second acquisition in the space of two weeks.
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Medtech M&A activity heated up in July with 19 acquisitions announced and closed during the month, an increase in activity compared to the 12 deals recorded in June but didn’t match the 25 acquisitions recorded in July 2017.
The US Medicare agency granted inpatient new-technology add-on payments for Boston Scientific's newly acquired cerebral protection system for TAVR, Respicardia's neurostimulator for sleep apnea and Procept BioRobotics' novel resection system for benign prostatic hyperplasia. The highly selective bonus payments typically help drive adoption for the chosen new technologies.
Certain VCs are becoming reluctant to invest in medtech, citing difficulties such as a shrinking pool of buyers and increasing regulatory challenges. But Sofinnova Partners has successfully sold a medical device portfolio company – and one that is in a difficult field like renal denervation, no less – to a Japanese buyer. Antoine Papiernik, managing partner at the French VC, explains how persevering with a renal denervation technology paid-off and gives his perspective on whether medtech is still a space worth investing in.