Company to add novel technology cleared for use in peripheral vasculature to interventional oncology and embolization portfolio
MARLBOROUGH, Mass., — Boston Scientific Corporation (NYSE: BSX) today announced the acquisition of Obsidio, Inc., a privately-held company that has developed the Gel Embolic Material (GEM™) technology used for embolization of blood vessels in the peripheral vasculature.
Embolization is a minimally invasive procedure intended to obstruct or reduce blood flow to an abnormality or tumor to stop hemorrhaging, reduce the size of malignant and benign tumors, and stabilize venous and arterial malformations.
Recently cleared by the U.S. Food and Drug Administration (FDA), the GEM technology is a semi-solid, proprietary material packaged in a ready-to-use form, thus reducing the preparation time required for many embolization procedures. Physicians deliver the GEM agent through a catheter, and its gel-like composition enables controlled placement within patient anatomy. Unlike solid and liquid embolics that can take time to form an obstruction to blood flow, once placed, the GEM technology conforms to the targeted vasculature, immediately creating a barrier.
“The GEM technology combines benefits of currently available embolics, such as precise control of a solid and malleability of a liquid, to create a unique technology that offers procedural efficiency and a more personalized therapy for patients,” said Peter Pattison, president, interventional oncology and embolization, Peripheral Interventions, Boston Scientific. “This acquisition strengthens our interventional oncology and embolization portfolio with a differentiated solution for physicians and their patients suffering from hemorrhages, cancer and other debilitating conditions.”
The transaction is expected to be immaterial to Boston Scientific’s GAAP and adjusted earnings per share in 2022. Specific terms of the transaction have not been disclosed.