Boston Scientific to acquire Cortex, terms undisclosed

Boston Scientific (BSX) announced it has entered into a definitive agreement to acquire Cortex, Inc., an Ajax Health company. Cortex is a privately held medical technology company focused on the development of a diagnostic mapping solution which may identify triggers and drivers outside of the pulmonary veins that are foundational to atrial fibrillation, or AF, a heart rhythm disorder affecting nearly 38M people globally. Cortex received FDA 510(k) clearance for the OptiMap System in 2023 and recently completed the randomized, controlled FLOW-AF clinical trial with data demonstrating that OptiMap-guided treatment of AF sources in patients with persistent AF improved freedom from AF one year after an ablation by 51% compared with patients who received conventional pulmonary vein isolation therapy alone. Earlier this year, the company initiated a 300 patient, global clinical trial, RESOLVE-AF, evaluating the effectiveness of the OptiMap System in identifying extra-pulmonary vein sources. Boston Scientific expects to complete the transaction in the first half of 2025, subject to customary closing conditions. The transaction is expected to have an immaterial impact on adjusted earnings per share in 2025 and is expected to be slightly dilutive on a GAAP basis due to amortization expense and acquisition-related net charges. Specific terms of the transaction have not been disclosed.