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Boston Scientific to buy Cryterion Medical for $202M

Boston Scientific Corp. will fully acquire privately held Cryterion Medical Inc. for $202 million in up-front cash.

Through the deal, the Marlborough, Mass.-based medical device maker will acquire the remaining 65% stake in Cryterion it does not yet own.

Carlsbad, Calif.-based Cryterion Medical is developing a cryoablation system, which is used to treat atrial fibrillation, or irregular heartbeat, which can lead to blood clots, stroke, heart failure and other heart-related complications.

The system is being evaluated in clinical trials in Europe and regulatory submissions in the EU and the U.S. are expected in 2019.

"The acquisition of Cryterion Medical enhances our [atrial fibrillation] procedure offerings, allowing physicians to select a therapeutic option based on clinical preference and specific patient needs," said Kenneth Stein, senior vice president and chief medical officer of rhythm management and global health policy at Boston Scientific.

The company said the deal will have no impact on adjusted earnings through 2020 and will be accretive thereafter.