Boston Scientific Completes Acquisition of Cameron Health
Boston Scientific has announced it has completed its acquisition of Cameron Health, according to a news release.
Cameron Health, a privately held company based in San Clemente, Calif., is the developer of the only commercially available subcutaneous implantable cardioverter defibrillator — the S-ICD System. The system, an alternative to traditional defibrillators, has received CE Mark and been commercially available in select geographies, including several major European countries, since 2009. Boston Scientific anticipates FDA approval for the S-ICD System in the first half of 2013.
Boston Scientific announced in March it was exercising the company's option to acquire Cameron Health. According to earlier reports, the acquisition agreement calls for an upfront payment of $150 million by Boston Scientific, payable upon transaction closing, plus an additional potential $150 million payment upon FDA approval of the S-ICD System. The agreement also calls for up to an additional $1.05 billion in payments based on meeting revenue-based targets in the six years after it goes on the market.
"We are pleased to complete the acquisition of Cameron Health, furthering Boston Scientific's commitment to introducing innovation in the CRM space," said Hank Kucheman, CEO of Boston Scientific, in the release. "Boston Scientific now provides physicians and their patients with an option to choose either the industry's thinnest, longest-lasting transvenous ICD or the world's first and only commercially available completely subcutaneous ICD."
Boston Scientific is headquartered in Natick, Mass.
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