Boston Scientific Corporation (NYSE: BSX) announced it has entered into a definitive agreement to acquire SoniVie Ltd., a privately held medical device company that has developed the TIVUS™ Intravascular Ultrasound System. An investigational technology, the TIVUS system is designed to denervate nerves surrounding blood vessels to treat a variety of hypertensive disorders, including renal artery denervation (RDN) for hypertension. As a strategic investor in SoniVie, Boston Scientific currently holds an equity stake of approximately 10%. Therefore, the transaction consists of an upfront payment of approximately US$360 million for the 90% stake not yet owned and up to US$180 million upon achievement of a regulatory milestone. Boston Scientific anticipates the transaction to be completed in the first half of 2025, subject to customary closing conditions.
Latham & Watkins LLP represents Boston Scientific in the transaction with a corporate team led by Boston partner Julie Scallen and Tel Aviv/New York partner Gilad Zohari, with associates Dante Spurlock, Jamie Savren, and Edward Reynolds. Advice was also provided on tax matters by Washington, D.C. partner Nicholas DeNovio, with associates Abigail Friedman and Nolon Blaylock; on executive compensation and benefits matters by Washington, D.C. partners David Della Rocca and Nikhil Kumar, with associate Christina Schrantz; on labor and employment matters by Chicago partner Nineveh Alkhas, with associate Imara Joroff; on intellectual property matters by New York counsel Eliot Choy, with associates Arun Mohan and Patrick Chew; on data privacy matters by Bay Area partner Heather Deixler, with associates Calum Docherty and Zac Alpert; on healthcare matters by Bay Area partner Betty Pang, with associates Leia Gu and Margaret Rote; on FDA regulatory matters by Washington, D.C. counsel Chad Jennings; on EU regulatory matters by Paris/Brussels partner Eveline Van Keymeulen, with associate Jeanne Fabre; on French corporate matters by Paris counsel Raphaël Darmon with associate Yasmine Houichi; and on French tax matters by Paris partner Xavier Renard with associate Camille Pons.
