Boston Scientific Expands Rhythm Management Diagnostics Portfolio with Acquisition of Preventive Solutions
Boston Scientific is making moves to strengthen its line of rhythm management diagnostics with the acquisition of privately held Preventice Solutions, Inc., a company that not only offers remote monitoring for cardiac issues, but also integrates deep learning algorithms and artificial intelligence to generate data used in diagnosis.
“This acquisition will provide Boston Scientific with a foothold in the high-growth ambulatory electrocardiography space, which strongly complements our recent entrance into the implantable cardiac monitor market and will serve as an important component of our category leadership strategy in cardiac diagnostics and services—a nearly $2 billion market anticipated to grow double digits annually,” said Scott Olson, senior vice president and president of rhythm management at Boston Scientific, in a company press release. “We are confident that by adding the broad technology portfolio and expertise of Preventice, our combined teams can continue to deliver rapid growth in these highly-attractive markets while also establishing an important adjacency to our core cardiac rhythm management and electrophysiology businesses.”
The company’s portfolio consists of cardiac health solutions and services, including the BodyGuardian line of remote, wearable cardiac monitors for adults and pediatric patients. “The monitors use a fully-integrated, cloud-based platform supported by an independent diagnostic testing facility, where clinical technicians and artificial intelligence (AI) algorithms provide insights that may lead to improved clinical diagnoses and outcomes. Preventice’s integration of AI and human expertise is designed to enhance physician efficiency and experience,” according to the release.
The deal involves an upfront cash payment of $925 million, which could be followed by a potential $300 million commercial milestone payment. The acquisition is expected to close by mid-2021.
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