USA – Boston Scientific has announced its acquisition of Cortex, a startup specializing in atrial fibrillation (AF) solutions.
The acquisition will strengthen Boston Scientific’s electrophysiology portfolio and help them treat complex AFib cases.
Cortex, which launched in late 2023, has developed an innovative mapping system designed to identify irregular electrical signals that lead to AF’s characteristic erratic heartbeat.
Expected to finalize in early 2025, the acquisition agreement remains under confidential financial terms.
Cortex’s primary offering, the FDA-cleared OptiMap System, combines a unique basket-shaped catheter with 64 electrodes and advanced algorithms, providing clinicians with a comprehensive real-time view of electrical activity within the heart’s chambers.
“The addition of the Cortex technology complements our electrophysiology portfolio with a differentiated cardiac mapping offering to assist with complex AF cases,” stated Nick Spadea-Anello, Boston Scientific’s global president of electrophysiology.
OptiMap is particularly useful in identifying AF triggers outside the pulmonary veins, which allows for a more precise and tailored ablation treatment.
This technology has shown remarkable results in a previous randomized study, where it significantly increased the number of patients free from persistent AF one-year post-procedure by 51 percentage points compared to conventional pulmonary vein isolation.
Cortex’s origins and progress in AF treatment
Founded through Ajax Health’s startup incubator, Cortex secured US $90 million in investment commitments last year from key investors, including KKR and Hellman & Friedman.
Led by Ajax CEO Duke Rohlen, Cortex has integrated advancements from other Ajax Health portfolio companies, notably Ablacon, which focused on heart mapping and contributed to OptiMap’s development.
Cortex recently launched a 300-patient clinical trial to evaluate its technology’s efficacy in both paroxysmal and persistent AF, with a focus on identifying arrhythmia sources beyond the pulmonary vein.
The trial encompasses patients undergoing either their first or follow-up ablation procedures.
Synergies with Boston Scientific’s Farapulse Platform
Boston Scientific’s existing pulsed field ablation system, Farapulse, which currently has FDA approval for treating paroxysmal AF, has significantly contributed to the company’s recent growth.
The electrophysiology division saw a remarkable 177% year-over-year sales increase last quarter.
With the Farapulse Nav catheter recently gaining FDA approval for magnetic navigation and the Faraview mapping software enhancing the platform, Boston Scientific’s acquisition of Cortex and its OptiMap System appears to be a strategic alignment aimed at tackling more complex AF cases.
Though the acquisition details were not publicly disclosed, Boston Scientific anticipates minimal impact on adjusted earnings per share in 2025 and a slight dilutive effect on GAAP earnings due to associated acquisition charges.
