Company to add novel technology cleared for use
in peripheral vasculature to interventional oncology and
embolization portfolio
MARLBOROUGH, Mass., Aug. 15,
2022 /PRNewswire/ -- Boston Scientific Corporation
(NYSE: BSX) today announced the acquisition of Obsidio, Inc., a
privately-held company that has developed the Gel Embolic Material
(GEM™) technology used for embolization of blood vessels
in the peripheral vasculature.
Embolization is a minimally invasive procedure intended to
obstruct or reduce blood flow to an abnormality or tumor to stop
hemorrhaging, reduce the size of malignant and benign tumors, and
stabilize venous and arterial malformations.
Recently cleared by the U.S. Food and Drug Administration (FDA),
the GEM technology is a semi-solid, proprietary material packaged
in a ready-to-use form, thus reducing the preparation time required
for many embolization procedures. Physicians deliver the GEM agent
through a catheter, and its gel-like composition enables controlled
placement within patient anatomy. Unlike solid and liquid embolics
that can take time to form an obstruction to blood flow, once
placed, the GEM technology conforms to the targeted vasculature,
immediately creating a barrier.
"The GEM technology combines benefits of currently available
embolics, such as precise control of a solid and malleability of a
liquid, to create a unique technology that offers procedural
efficiency and a more personalized therapy for patients," said
Peter Pattison, president,
interventional oncology and embolization, Peripheral Interventions,
Boston Scientific. "This acquisition strengthens our interventional
oncology and embolization portfolio with a differentiated solution
for physicians and their patients suffering from hemorrhages,
cancer and other debilitating conditions."
The transaction is expected to be immaterial to Boston
Scientific's GAAP and adjusted earnings per share in 2022. Specific
terms of the transaction have not been disclosed.
About Boston Scientific
Boston Scientific transforms
lives through innovative medical solutions that improve the health
of patients around the world. As a global medical technology leader
for more than 40 years, we advance science for life by providing a
broad range of high-performance solutions that address unmet
patient needs and reduce the cost of healthcare. For more
information, visit www.bostonscientific.com and connect on Twitter
and Facebook.
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CONTACTS:
Media:
Karin Dalsin
+1.763.494.1914
Karin.Dalsin@bsci.com
Investor Relations:
Lauren Tengler
+1.508.683.4479
Lauren.Tengler@bsci.com
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SOURCE Boston Scientific Corporation