Boston Scientific acquires Obsidio for oncology portfolio expansion

By Pranali Mehta  | Date: 2022-08-16

Boston Scientific acquires Obsidio for oncology portfolio expansion

Boston Scientific Corporation has reportedly announced that it is planning to acquire Obsidio Inc., a private company which has developed the GEM Technology (Gel Embolic Material), used for the blood vessels’ embolization in peripheral vasculature.

For the record, embolization is a minimal invasive procedure which is intended to reduce and obstruct the blood flow, limit the size of benign and malignant tumors, stabilize the arterial and venous malformations, while stopping the haemorrhaging of tumors. 

Recently, the GEM technology was cleared by the FDA (Food and Drug Administration). It is a semi-solid, proprietary material, pre-packed in a ready-to-use form, that reduces  the time required for the preparation of various embolization procedures.

Under this procedure, physicians deliver the GEM agent with the help of a catheter, and through its gel-like composition, it becomes easy to place the agent precisely within the patient’s anatomy. Unlike the liquid and solid embolic, which may take time to form an obstruction to the blood flow, once placed, the GEM technology adheres to the aimed vasculature and immediately creates a barrier.

Peter Pattison, President of interventional oncology and embolization, Boston Scientific’s Peripheral Interventions stated that the GEM technology amalgamates the advantages of the presently available embolic in the market. These include precise control and the malleability of a liquid and solid, to form a unique technology that enhances the procedural efficiency and offers a more personalized therapy for patients.

Peter further added that this acquisition will strengthen its embolization and interventional oncology portfolio, with a specific solution for both the physicians and the patients suffering from cancer, haemorrhages, and other debilitating conditions.

According to sources, this transaction is expected to be irrelevant to Boston Scientific's GAAP and the adjusted earnings per share in 2022.

It has been reported that the specific terms of the transaction have not yet been disclosed.

Source: https://www.prnewswire.com/news-releases/boston-scientific-announces-acquisition-of-obsidio-inc-301605317.html

About Author

Pranali Mehta     aeresearch.net

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta has dutifully walked down the slated path and worked in the chemicals industry for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience...

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