The medical technology manufacturer Boston Scientific Corporation wants to acquire Cameron Health, a private company with headquarters located at San Clemente, California. Cameron Health developed the first one and only commercially available subcutaneous ICD-technology (S-ICD) which offers lifesaving therapy to patients at risk of sudden cardiac arrest. Boston Scientific anticipates approval by the Food and Drug Administration (FDA) for the S-ICD-system in the first half of 2013.
The agreement includes an upfront payment of 150 million dollars, payable upon the transaction being finalized, a further payment of 150 million dollars when the FDA has approved the S-ICD system, as well as up to an additional 1.05 billion dollars of potential payments which will fall due upon achieving various, profit-related milestones within 6 years of the FDA approval.
[ilink url=http://media.corporate-ir.net/media_files/irol/62/62272/bsc_3_8.pdf] link to source (Boston Scientific)[/ilink]