Boston Scientific (BSX) to Acquire Coronary CTO Maker BridgePoint Medical

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Boston Scientific Corp. (NYSE: BSX) signed a definitive agreement to acquire BridgePoint Medical, Inc., a privately held company based in Minneapolis, Minnesota.

The transaction is expected to close in the fourth quarter of 2012 subject to customary closing conditions.

The transaction is expected to have an immaterial impact on GAAP and adjusted earnings in 2012 and 2013 and be modestly accretive thereafter. Financial terms of the transaction are not being disclosed.

The OffRoad CTO device is an investigational device and is not available for sale in the U.S.

BridgePoint Medical has developed a proprietary, catheter-based system to treat coronary chronic total occlusions (CTOs).

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