Boston Scientific to buy coronary catheter maker
NATICK, Mass. (AP) — Boston Scientific Corp. said Wednesday that it agreed to buy privately held BridgePoint Medical Inc.
BridgePoint, based in Minneapolis, makes a catheter system to treat chronic blockage of the coronary artery, a condition that prevents blood circulation to part of the heart. Blockage is usually deemed chronic if it has lasted for at least 3 months. BridgePoint's CrossBoss catheter and Stingray re-entry system are designed to restore blood flow to those arteries, and they are approved for use in the U.S. and the European Union.
Boston Scientific said the purchase will close in the fourth quarter and it did not disclose financial terms. The company said the acquisition won't make a significant difference in its net income this year or next. It's expected to contribute a modest amount after that.
Shares of Boston Scientific rose 5 cents to $5.80 in afternoon trading.