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Boston Scientific acquires Neovasc's advanced biologic tissue capabilities

Boston Scientific Corp. acquired certain manufacturing assets and capabilities of Neovasc Inc.'s advanced biological tissue business.

The company also made a 15% equity investment in Neovasc, acquiring 11,817,000 of Neovasc's common shares at 60 cents per share for $7.1 million. The shares were acquired for investment purposes.

Total consideration for both transactions was $75 million.

With the completion of the deal, Boston Scientific will integrate certain manufacturing assets and biologic tissue capabilities into its structural heart business for use in the manufacturing of the Lotus Valve System and future heart valve technologies.