logo
Plus   Neg
Share
Email

Boston Scientific Announces Acquisition Of Securus Medical - Quick Facts

Boston Scientific Corp. (BSX) announced the acquisition of Securus Medical Group, Inc., a privately-held company that has developed a thermal monitoring system for the continuous measurement of esophageal temperature. Boston Scientific has been an investor in Securus since 2016, and the transaction price for the remaining stake not already owned consists of $40 million in cash up-front, as well as up to $10 million in contingent payments based on regulatory achievements and commercial milestones.

Securus Medical Group is headquartered in Cleveland, Ohio, with offices in Beverly, Massachusetts. Boston Scientific said the transaction is expected to be immaterial to its adjusted and GAAP earnings per share.

The thermal monitoring system developed by Securus Medical Group is an integrated catheter-based probe and imaging system that generates real-time images of the temperature of the esophagus. The latest generation infrared esophageal temperature monitoring system recently received 510(k) clearance from the U.S. FDA, and is expected to be integrated into the Boston Scientific portfolio and commercially available in the U.S. in the first half of 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss drug major Roche Holding AG reported Wednesday higher sales in its first nine months of fiscal 2018, with growth in Pharmaceuticals sales in all regions except Europe. Diagnostics Division also recorded higher sales in all regions. Looking ahead to fiscal 2018, Roche confirmed its outlook for higher results at constant exchange rates. Online-video streaming service Netflix Inc. (NFLX), Tuesday reported a third-quarter profit that surged from last year as revenues increased 34% driven largely by strong subscriber additions. Shares surged nearly 12 percent in the after-hours trading. Netflix added 6.96 million subscribers globally... Despite opposition from the pharmaceutical industry, President Donald Trump's administration has proposed a new rule requiring companies to include the prices for prescription drug and biological products in their television advertisements.
Follow RTT