Boston Scientific Announces Acquisition of EMcision, Limited
MARLBOROUGH, Mass., March 5, 2018 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has acquired EMcision, Limited, a privately held company located in the United Kingdom and Canada. The acquisition will expand the Boston Scientific Endoscopy portfolio to include the HabibTM EndoHPB probe, a novel endoscopic bipolar radiofrequency device, which coagulates tissue in the gastrointestinal (GI) tract. The Habib EndoHPB probe is used by physicians in the treatment and palliative care of patients living with pancreaticobiliary cancers.
Patients with pancreaticobiliary cancers often develop jaundice as a result of tissue ingrowth that blocks ducts that enable bile to drain out of the GI tract. The Habib EndoHPB probe coagulates this tissue to help ensure that the fluids are able to drain, which can result in an improvement in a patient's quality of life. In addition to coagulating tissue, physicians will frequently place stents to ensure that the GI tract remains open during palliative care.
"As we continue to search for ways to treat pancreaticobiliary cancers, we also seek to improve the quality of life for patients living with a cancer diagnosis today," said Art Butcher, senior vice president and president, Endoscopy, Boston Scientific. "We are committed to exploring innovative options to help increase the chance of early diagnosis, improve treatment and advance the ability to remove cancers located in challenging areas of the gastrointestinal tract."
Pancreaticobiliary cancers account for nearly a million deaths annually worldwide and have limited treatment options.1 While an early diagnosis improves the likelihood that a patient can meet the criteria for surgical removal of a tumor,2 currently only 40 percent of patients with cholangiocarcinoma and 20 percent of patients with pancreatic cancer are candidates for surgery.3,4 The EMcision products have helped thousands of patients worldwide with these difficult to treat cancers for whom surgery is not an option.
The Habib EndoHPB probe is cleared by the U.S. Food and Drug Administration and received CE mark in the European Union.
The Boston Scientific Endoscopy business offers a range of devices and solutions that help with the diagnosis, treatment and management of GI and pulmonary diseases. In November 2016, Boston Scientific acquired EndoChoice Holdings, Inc., adding pathology services, infection prevention and a range of single-use devices to its portfolio. In addition, the company is developing a range of devices to expand the field of minimally invasive endoluminal procedures as alternatives to conventional surgery for the removal of precancerous lesions and malignant tumors in the GI tract.
The acquisition of EMcision, Limited is expected to be immaterial to earnings per share (EPS) in 2018 on an adjusted and GAAP basis and accretive thereafter. Specific terms of the transaction were not disclosed.
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Susie Lisa, CFA
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