Monday, February 16, 2004

Med Tech

Boston Scientific makes investment in Endoscopic Technologies

Natick's Boston Scientific Corp. has made an equity investment in and secured an exclusive option to acquire Endoscopic Technologies Inc. (ESTech) of California.

The financial nature of the deal was not released.

According to Boston Scientific, the companies intend to continue a pre-existing collaboration in the development of less-invasive surgical tools for the treatment of arrhythmias, particularly atrial fibrillation. An arrhythmia is an abnormal heart rhythm or heart rate.

Atrial fibrillation is a form of reentrant atrial tachycardia, whereby the atria (upper chambers of the heart) have chaotic electrical activity without coordinated and effective atrial contractions. Atrial fibrillation is the most common cardiac arrhythmia, affecting more than two million patients in the United States.

ESTech develops less-invasive technologies that enable surgeons to access and manipulate the heart and perform cardiac procedures without open-heart surgery. The companies are collaborating in the development of devices that will facilitate a less-invasive endoscopic ablation procedure through the combination of ESTech's cardiac surgery capabilities and Boston Scientific's ablation technology.

"Boston Scientific has been working diligently over the years to provide clinical solutions to the suffering and needs of the atrial fibrillation population," said Tom Coen, president of Boston Scientific's Electrophysiology business, in a statement. "Cardiothoracic surgeons have emerged as a key group treating atrial fibrillation and they are eager to expand their treatment options. We believe that our relationship with ESTech will enable us to bring them the tools they are seeking."

Boston Scientific stock opened at $43.30, up 20 cents from yesterday's close.