Boston Scientific to Acquire Sadra Medical

November 19, 2010—Boston Scientific Corporation (Natick, MA) announced the signing of a definitive merger agreement under which the company will acquire Sadra Medical, Inc. (Los Gatos, CA). Sadra is developing a fully repositionable device for percutaneous aortic valve replacement to treat patients with severe aortic stenosis.

According to Boston Scientific, Sadra has recently completed a series of European feasibility studies of its Lotus valve system, which consists of a stent-mounted tissue valve prosthesis and catheter delivery system for guidance and placement of the valve. The low-profile delivery system and introducer sheath are designed to enable accurate positioning, repositioning, and retrieval at any time before release of the aortic valve implant.

Since 2006, Boston Scientific has been a strategic investor in Sadra and currently owns 14% of the company. It will purchase the remaining share of Sadra Medical for a $193 million upfront cash payment and potential future payments of up to $193 million upon achievement of specified regulatory and revenue milestones through 2016. Closing of the transaction is subject to customary conditions. Boston Scientific expects the closing to be completed in the fourth quarter of 2010 or the first quarter of 2011.