Boston Scientific is infusing medical device company Millipede with $90 million, an equity investment that comes with the option to acquire the startup outright.
According to the agreement, Marlborough, MA-based Boston Scientific (NYSE: BSX) must exercise its option to acquire Millipede before the startup completes its ongoing clinical trial for its heart valve repair device—as long as that trial meets certain undisclosed parameters. If the acquisition does not happen by the end of the clinical trial, which could wrap up by early summer, Santa Rosa, CA-based Millipede has the option to compel Boston Scientific to buy the rest of the company it does not already own. The options of both companies expire at the end of next year.
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