By Colin Kellaher

Boston Scientific Corp. on Thursday said it agreed to buy Preventice Solutions Inc. in a deal that values the provider of mobile cardiac-health equipment and services at $925 million.

Boston Scientific said the transaction also includes up to an additional $300 million in a potential commercial milestone payment.

The Marlborough, Mass., maker of medical devices already holds a roughly 22% stake in Preventice, resulting in a net payment of about $720 million at closing and a milestone payment of up to about $230 million.

Preventice, a provider of ambulatory cardiac monitors, cardiac-event monitors and mobile cardiac telemetry, recorded net sales of $158 million last year, a 30% growth rate from 2019, Boston Scientific said, adding that the acquisition expands its rhythm-management diagnostics portfolio and capabilities.

The company said it expects to complete the acquisition by mid-2021.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

01-21-21 0736ET