Boston Scientific agrees to buy CryoCor for $17.6 m
Natick medical device maker Boston Scientific Corp. said today it has agreed to pay $17.6 million to buy CryoCor Inc., a California company that makes a disposable catheter system.
(Some CryoCor products are shown at right.)
Since June, the two companies have been jointly seeking to develop a therapeutic solution to atrial fibrillation, or Afib, a common cardiac arrhythmia that affects millions of people.
The existing agreement involves the development of a console to deliver cryo energy to a cryo balloon catheter that Boston Scientific has designed to provide a safe and standardized method to isolate the electrical activity originating from the pulmonary veins, which are believed to be a source of Afib, Boston Scientific said.
The acquisition of CryoCor will allow Boston Scientific to further refine this base console technology and gain exclusive rights to CryoCor's intellectual property, Boston Scientific said.
The proposed acquisition has the approval of CryoCor's board of directors and is expected to close this quarter, Boston Scientific said.
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(By Chris Reidy, Globe staff)
