Boston Scientific (NYSE: BSX) announced its intention to acquire Bolt Medical, a developer of intravascular lithotripsy (IVL) platforms. Before considering any existing equity stake and potential adjustments, the acquisition is set at $600 million upfront, with an additional $300 million dependent on meeting certain regulatory goals.
This significant acquisition positions Boston Scientific firmly in the expanding IVL market, following Johnson & Johnson’s recent $13.3 billion acquisition of Shockwave Medical in 2024. Companies like FastWave Medical, Vantis Vascular, and Amplitude Vascular are also innovating in this space.
Bolt Medical’s IVL platform utilizes advanced laser technology to treat coronary and peripheral artery disease. It offers a novel lithotripsy method that fractures calcium by producing acoustic waves within a balloon catheter. Consistent energy delivery is ensured through the system’s visible, directional emitters, optimizing treatment for calcified lesions.
The Bolt IVL system has yielded positive outcomes in the pivotal clinical trials, RESTORE ATK and RESTORE BTK. Findings from these trials will support FDA and CE mark applications for its investigational devices aimed at treatment above and below the knee.
Ripples of interest followed Bolt Medical’s recent FDA approval to initiate the global FRACTURE IDE study. This study will explore the application of its coronary IVL system in managing severely calcified coronary artery disease.
Boston Scientific’s Journey with Bolt Medical
Established by Boston Scientific in 2019, Bolt Medical turned into a strategic investment, with the Marlborough, MA-based company holding a 26% equity stake. The transaction necessitates an initial $443 million payment for the remaining 74% ownership, with potential added payments up to $221 million upon attaining specified regulatory objectives.
The completion of this transaction is anticipated in the first half of 2025. Boston Scientific expects a slightly negative impact on earnings per share in 2025 but plans to counterbalance this with internal efficiencies. This excludes any one-time gain related to its previous equity stake in Bolt.
“The expanding intravascular lithotripsy sector meets a considerable unmet need among patients dealing with challenging calcified arterial disease through minimally invasive techniques,” remarked Lance Bates, SVP, and President of Interventional Cardiology Therapies at Boston Scientific. “Bolt Medical’s development of next-generation technology complements our existing portfolio considerably, enhancing our support to physicians and patients, and fostering future innovations.”