Boston Scientific announced it has agreed to acquire Veniti Inc., maker of a venous stent system to treat obstructive venous disease.
Veniti developed and commercialized the Vici venous stent system, and Boston Scientific has held a 25% stake in the company since 2016, according to a press release from Boston Scientific.
To acquire the rest of the company, Boston Scientific will pay $108 million in cash and up to an additional $52 million if the venous stent system is approved by the FDA, according to the release.
The self-expanding nitinol stent system was designed specifically for the veins and is intended to withstand compression and maintain patency and flexibility during a patient’s lifetime, Boston Scientific stated in the release.
“With the unique benefits of this differentiated technology and the strong experience of Boston Scientific in the overall venous market, we believe the Vici stent will become an important choice for physicians who choose stents to treat patients suffering from venous disease,” Jeff Mirviss, senior vice president and president of peripheral interventions for Boston Scientific, said in the release. “Along with our leading AngioJet thrombectomy platform and venous product pipeline, we look forward to meeting the needs of physicians treating both chronic and acute venous disease.”
The stent system received a CE mark in 2013 and Veniti filed an application for FDA approval in June based on results of the VIRTUS study, Boston Scientific stated in the release, noting that there are currently no stents specifically approved by the FDA for use in the peripheral venous system.
Disclosure: Mirviss is an employee of Boston Scientific.