Taft acted as legal counsel to Securus Medical Group on the deal
Boston Scientific Corporation finalized the acquisition of Securus Medical Group, Inc., a privately-held company that has developed a thermal monitoring system for the continuous measurement of esophageal temperature. Boston Scientific has been an investor in Securus since 2016, and the transaction price for the remaining stake not already owned consists of $40 million in cash up-front, as well as up to $10 million in contingent payments based on regulatory achievements and commercial milestones.
Arrhythmias are commonly treated with cardiac ablation – the process of delivering radiofrequency (heating) or cryothermal (cooling) energy to destroy a small area of heart muscle responsible for the abnormal heart rhythm. Physicians monitor the temperature of the esophagus, which is located behind the area of the heart where the hot or cool energy is applied, during an ablation procedure to avoid thermal injury.
The thermal monitoring system developed by Securus Medical Group is an integrated catheter-based probe and imaging system that generates real-time images of the temperature of the esophagus.
Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The company, led by Michael F Mahoney, Daniel J Brennan and Ian Meredith, in 2017 recorded $9.048 Billion revenues.
Taft advised Securus Medical Group, Inc. with Howard Bobrow (Picture), Brandi Weekley and Katelyn Evans.
Law Firms: Taft Stettinius & Hollister;
Clients: Securus Medical Group Inc.;