Business & Tech
Burlington Software Company to be Sold for up to $265 Million
Boston Scientific said in a release that it would acquire the Burlington-based software company Rhythmia Medical Inc.
A Burlington-based software company is set to be sold for a pretty penny.
Yesterday the Boston Herald reported that Boston Scientific will acquire Rhythmia Medical Inc., located at 111 South Bedford Street #205, for up to $265 million.
According to the story, the deal is expected to close by Friday. Boston Scientific will be pay $90 million for the company with up to additional $175 million in milestone payments based on regulatory, commercial and sales based milestones through 2017.
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The deal is expected to close by Friday, the companies said. Boston Scientific will pay $90 million for privately held Rhythmia, plus up to another $175 million in milestone payments based on regulatory, commercial and sales-based milestones through 2017.
Rhythmia creates software for electrophysiology procedures. Boston Scientific said it plans to have a limited market launch of Rhythmia's mapping system in 2014, dependent upon approval by the U.S. Food and Drug Administration and approval in Europe.
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