NATICK, Mass. (AP) — Medical device maker Boston Scientific Corp. said Friday that it closed its acquisition of Cameron Health Inc., a privately held maker of a minimally invasive heart defibrillator.
Traditional implantable defibrillators use thin, insulated wires to send electrical signals to the heart to coordinate pumping action. San Clemente, Calif.-based Cameron Health's S-ICD device sits just below the skin's surface and its electrodes do not directly touch the heart or blood vessels. The device is approved in several European countries, and more than 1,000 units have been implanted worldwide
Under the terms of the deal, Natick, Mass.-based Boston Scientific paid an initial $150 million at closing. The company will pay an additional $150 million if S-ICD wins U.S. regulatory approval, plus another $1.05 billion in potential payments based on specified sales figures.
Boston Scientific said it still expects the acquisition to reduce its 2012 earnings by 1 cent per share.
Boston Scientific shares rose 6 cents to $5.72 in afternoon trading.