Novartis is set to exit heart valve replacement maker Symetis after Boston Scientific agreed a cash purchase less than two weeks after the company filed to go public.
Medical device manufacturer Boston Scientific agreed yesterday to acquire Switzerland-based heart valve replacement technology provider Symetis in a $435m all-cash deal that will provide an exit to pharmaceutical firm Novartis.
Founded in 2001, Symetis develops and manufactures percutaneous heart valve replacement products to treat severe cardiac valve conditions. Boston Scientific will add the company’s valves to the range of aortic valvular heart disease treatments it provides through its Lotus platform.
The company filed for a €55.8m ($59.6m) initial public offering…
