8-KOther EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Jun 24, 2021)

Filed June 24, 2021For Securities:BSX

Summary

Boston Scientific Corporation (BSX) announced on June 24, 2021, that it has exercised an option to acquire the remaining shares of Farapulse, Inc., a company specializing in pulsed field ablation systems for atrial fibrillation treatment. This strategic acquisition aims to enhance BSX's offerings in the cardiac rhythm management and electrophysiology markets. The transaction involves an upfront payment of $450 million, adjusted to approximately $295 million after accounting for BSX's existing stake, debt, and other closing adjustments. Additional payments, including up to $125 million tied to clinical and regulatory milestones and future revenue-based considerations, are also part of the deal. The acquisition is expected to close in the third quarter of 2021, subject to standard closing conditions. This move signifies BSX's commitment to expanding its presence in innovative therapeutic technologies.

Key Highlights

  • 1Boston Scientific (BSX) is acquiring the remaining shares of Farapulse, Inc., a developer of pulsed field ablation systems.
  • 2The acquisition aims to strengthen BSX's position in the treatment of atrial fibrillation.
  • 3The total transaction value includes an upfront payment of approximately $295 million (after adjustments) and potential milestone and revenue-based payments.
  • 4The deal is expected to close in the third quarter of 2021.
  • 5Farapulse's technology offers a non-thermal ablation treatment for atrial fibrillation.
  • 6The announcement was made via a press release filed as an exhibit to the 8-K.

Frequently Asked Questions

Boston Scientific is acquiring the remaining shares of Farapulse, Inc., a privately-held company. This acquisition is significant because Farapulse develops and commercializes a pulsed field ablation system, an innovative non-thermal treatment for atrial fibrillation, which will enhance Boston Scientific's electrophysiology portfolio.

The transaction involves an upfront payment of $450 million, adjusted to approximately $295 million considering BSX's existing ownership and other closing adjustments. Additionally, there are potential milestone payments of up to $125 million and future revenue-based payments over three years.

Boston Scientific expects to complete the acquisition of Farapulse in the third quarter of 2021, subject to customary closing conditions.

The company's filing includes a cautionary statement regarding forward-looking statements. Potential risks that could affect actual results include challenges in achieving clinical and regulatory milestones, integration risks, future market acceptance, competitive pressures, reimbursement conditions, and other factors detailed in BSX's SEC filings, such as its Annual Report on Form 10-K.