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JanuaryOn the 8th, Boston Scientific officially announced that it would acquire Bolt Medical for $6.64 billion (equivalent to 4.87 billion yuan).

Bolt Medical is an innovative medical device company headquartered in Carlsbad, California.Focused on designing and developing an IVL technology platform for coronary and peripheral interventional procedures, its innovative laser-based IVL platform fragments calcium by generating acoustic pressure waves within a balloon catheter, offering a new treatment option for patients with moderate to severe calcified arterial disease.

As Bolt MedicalBolt Medical's early strategic investors,Bolt MedicalPreviously held approximately 26% of its equity.。The disclosed acquisition price of $6.64 billion is comprised of$443 million in upfront payments and $221 million in milestone rewards, which is expected to be completed in the first half of 2025.。

It is reported that Bolt Medical has recently achieved positive results in the pivotal clinical trials RESTORE ATK and RESTORE BTK.In December 2024, Bolt Medical received FDA approval to conduct the global FRACTURE IDE clinical trial in the United States.

Lance Bates, Senior Vice President and President of Interventional Cardiology at Boston Scientific, stated: "Intravascular lithotripsy is one of the fastest-growing medical device fields, addressing a significant unmet need for patients with complex calcified arterial disease through minimally invasive methods.Bolt Medical is developing the next generation of technology, which is a response to Boston ScientificHighly Complementary to Existing Product Portfolio。”

Based on excellent performance at the clinical level,IVL has been highly sought after in the capital market in recent years.According to iData ResearchData,2023 Global IVL Market Value$25.87 billion, Compound Annual Growth Rate 9.3%.

The rapidly growing market share has attracted giants to enter the field quickly. Prior to this acquisition of Bolt Medical, Boston Scientific Corporation hadPopular Companies in the IVL FieldShockwave Medical showed a high level of interest, and it was rumored that Medtronic also expressed an acquisition intention for the company during the same period.ButFinally, it was acquired by Johnson & Johnson last year for $13.1 billion.

Although it was "behind" temporarily in the last round, Boston Scientific's push into the IVL field has not slowed down, and this acquisition of Bolt Medical serves as a significant milestone in its entry.Needham'sMichael MatsonGave high praise to this acquisition,Bolt is expected to bring new growth momentum to Boston Scientific.

InIn the blue ocean market of IVL,The showdown between giants is imminent.

New Hot Track Explosion

Highly Concerned Both Domestically and Internationally

Take Shockwave Medical, which is favored by three top giants, as an example,It is the world's first company to launch a shock wave balloon catheter.Less than two years after the introduction of this technology (2021),Shockwave Medical's annual revenue reached $237 million, a year-over-year increase of 250%. In Q1 2024, revenue was $218.8 million, a significant year-over-year increase of 36%.。

WithThe recognition of IVL in clinical settings has been increasing year by year, and it has already gainedFDA-Approved Bolt Medical Poised to Quickly Gain a Foothold in Currently Undercompetitive Market

It is reported that,Abbott also spent a huge sum to complete the acquisition of Cardiovascular Systems, a direct competitor of ShockWave, in 2023.IVL has clearly become a battleground for the cardiovascular industry leaders.。

Facing the Popular Competition Affecting the GlobeOf course, the Chinese market is not willing to remain silent either.According to Sullivan data,The potential market size for coronary shockwave balloon therapy in China is expected to grow from RMB 0.1 billion in 2022 to RMB 15.7 billion in 2030, with a compound annual growth rate (CAGR) as high as 80.5%.。

In 2021,Shockwave and Jian Shi Medical Form Joint Venture, whose Shockwave balloon catheter was approved for marketing by the National Medical Products Administration in 2022.

Among local players,Saihe Medical, Lepu Medical, Puchuang Medical, Zhonghui MedicalEtc. are all domestically produced.Products have been launched, and the development of multiple domestically produced IVLs is also underway.‍‍‍‍‍‍‍‍‍

Despite still being in its infancy, the market potential of IVL in China has gradually...Show. The sound wave balloon of Lepu Medical was launched in 2024 and began to contribute revenue in the second quarter. According to its semi-annual report, the coronary intervention of Lepu Medical achieved a revenue of 850 million yuan in the first half of 2024.Among which, the income contribution of the Sonic Balloon in the first half of the year was approximately 2%.。

According to data from the Chinese Circulation Journal,In 2021, China performed 1.32 million PCI procedures.As mentioned at CHC2019,Among patients undergoing elective PCI, the proportion with moderate to severe calcified lesions can reach 31%.。

Relying on a large patient base, as well as the difficulty in...The alternative clinical value suggests that the current market size of IVL might still be underestimated. A new blockbuster product in the medical device field has emerged, and the outcome of this round of competition will directly impact the future industry landscape.