Boston Scientific Announces Rubicon Acquisition, CE Mark

Boston Scientific has exercised its option to acquire Rubicon Medical, spending $72 million -- and as much as $84 million more should Rubicon reach certain milestones.

Salt Lake City-based Rubicon is seeking approval of the Rubicon Filter, used during vascular procedures. The company reported virtually no revenue for the first nine months of last year, and at the end of September 2004 reported $11 million in cash and $2.9 million in accumulated losses on the year. Boston Scientific said the Rubicon filter could be used in some patient trials with its Taxus stent system.

The companies also announced that Rubicon has received the CE Mark for the Rubicon Filter. The Rubicon Filter is an embolic protection system that traps and removes debris that may be dislodged during interventional procedures. It has been cleared for commercialization in three indications -- saphenous vein grafts, native coronary arteries and carotid arteries -- as well as in three sizes: 4-mm, 5-mm and 6-mm filters.