Boston Scientific Closes Claret Medical Acquisition and Receives CMS Reimbursement Designation
August 2, 2018—Boston Scientific Corporation announced that it has closed its acquisition of Claret Medical, Inc., which has developed and commercialized the Sentinel cerebral embolic protection system to protect patients from the risk of stroke in transcatheter aortic valve replacement procedures. Additionally, the company announced that the Centers for Medicare & Medicaid Services (CMS) granted a New Technology Add-on Payment (NTAP) designation for the Sentinel system as part of the federal fiscal year 2019 Inpatient Prospective Payment System.
On July 20, Boston Scientific announced a definitive agreement to acquire Claret Medical for $220 million in up-front cash with an additional $50 million payment for reaching a reimbursement-based milestone, which has been fulfilled with the NTAP designation. The NTAP designation is awarded to new medical devices determined to substantially improve the diagnosis or treatment of Medicare beneficiaries and will be effective on October 1, 2018.
The Sentinel system received European CE Mark approval in 2014 and FDA clearance in 2017.