Boston Scientific Corporation BSX signed a deal with specialty medical device company Neovasc Inc. (NVCN). Boston Scientific will buy Neovasc’s tissue processing technology and facility as well as making an investment in 15% of NVCN’s stock, bringing the total BSX investment to $75 million.
The buyout should fortify Boston Scientific’s Lotus Transcatheter Aortic Valve business within its growing Structural Heart segment. Neovasc’s biological tissue capabilities will be integrated within Boston Scientific’s structural heart segment. According to Boston Scientific, the integration will strengthen its structural heart pipeline and immediately benefit its Lotus valve platform.