Company: BSX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000885725-25-000026
Chunk: 33

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 to an additional $180 million in a future payment upon achievement of a regulatory milestone. The transaction is expected to close during the second quarter of 2025, subject to customary closing conditions. The SoniVie business will be integrated into our Cardiology division. 

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On November 25, 2024, we announced our entry into a definitive agreement to acquire 100 percent of Intera Oncology®, Inc. (Intera), a privately held medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine – a chemotherapy drug – both of which are approved by the U.S. Food and Drug Administration. The Intera 3000 pump is used to administer hepatic artery infusion therapy to treat tumors in the liver primarily caused by metastatic colorectal cancer. The purchase price consists of an upfront cash payment of approximately $175 million. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions. The Intera business will be integrated into our Peripheral Interventions division.2025 AcquisitionsOn January 24, 2025, we completed our acquisition of 100 percent of Cortex, Inc. (Cortex), a privately held medical technology company focused on the development of a diagnostic mapping solution which may identify triggers and drivers outside of the pulmonary veins that are foundational to atrial fibrillation (AF). The transaction consisted of an upfront cash payment of $239 million, net of cash acquired, and up to an additional $50 million in future payments upon achievement of clinical and other milestones. The Cortex business will be integrated into our Cardiology division.Purchase Price Allocation We accounted for this transaction as a business combination in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, Business Combinations (FASB ASC Topic 805). The preliminary purchase price was comprised of the amount presented below: (in millions)CortexPayment for acquisition, net of cash acquired$239 Fair value of contingent consideration38 $277 We recorded the assets acquired and liabilities assumed at their respective fair values as of the closing date of the transaction. The preliminary purchase price allocation was comprised of the components presented below, which represent the preliminary determination of the fair value of assets acquired and liabilities assumed, with the excess of the purchase price over the fair value of net identifiable assets acquired recorded to goodwill. The final determination of the fair value of certain assets and liabilities will be completed within the measurement period in accordance