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Boston Scientific expands blood blocker portfolio with acquisition of Obsidio

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Red blood cells True to the Latin definition of its name, Obsidio is developing a hydrogel technology that can create a blockage in blood vessels and slow or stop blood flow to a tumor or other abnormality. (Wikimedia Commons)

After a whirlwind 2021 that saw Boston Scientific gobble up a handful of smaller companies left and right, the giant’s M&A appetite seems to have slowed.

In the first half of last year, Boston Sci already had written plans to acquire three of its long-term partners and investors. For this year, however, the company is only now announcing its second planned buyout for 2022, this time a developer of embolization technologies.

The target is Obsidio, a South Carolina-based startup that — true to its name’s Latin definition — is developing hydrogel technology that can create a blockage in blood vessels and slow or stop blood flow to a tumor or otherwise. abnormality.

Neither company disclosed the financial terms of the acquisition, but Boston Scientific said it does not expect the buyout to have any significant impact on its earnings in 2022.

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Obsidio’s Gel Embolic Material, or GEM, technology contains a semi-solid hydrogel that is inserted into blood vessels via a catheter. It is intended for use in the peripheral vascular system – the veins that supply blood everywhere in the body outside the brain and heart – where its gel formulation facilitates placement and adaptation to the patient’s vascular structure.

Embolization procedures to obstruct or completely block blood flow in a vein can be used to stop bleeding, stabilize malformations in veins and arteries, and cut tumors off from their blood supply, reducing their size.

The FDA approved (PDF) Obsidio’s hydrogel in July. It will be integrated into Boston Scientific’s existing portfolio of interventional oncology and embolization devices and materials.

“GEM technology combines the advantages of currently available emboli, such as precise control of solids and fluid malleability, to create a unique technology that offers procedural efficiency and more individualized therapy for patients,” said Peter Pattison, president of the portfolio. in Peripheral Interventions segment Boston Sci.

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Obsidio’s buyout comes shortly after Boston Scientific’s first M&A this year. The announcement came in late June when the Massachusetts-based device maker said it would buy a majority stake in M.I.Tech, a Korean maker and distributor of non-vascular metal stents.

In exchange for a 64% ownership stake, Boston Sci offered 14,500 South Korean won per M.I.Tech share, bringing the total purchase price to 291.2 billion won, or about $230 million. The buyer again said it does not expect the acquisition to have a material impact on its earnings per share in 2022.

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