Blackstone, Boston Scientific Sign $455 Million Agreement to Co-Fund Development of Heart Pump

Blackstone Life Sciences and Boston Scientific have reached a $455 million deal under which the two parties will jointly fund the development of a minimally invasive cardiac pump. The two companies are collaborating on the development of the Vitalyst system. This is a device designed by Boston Scientific, intended to provide support for pumping blood to the heart without the need for open-heart surgery. The Vitalyst system is being developed to treat cardiogenic shock, a medical emergency caused by the heart's inability to pump enough blood. The deal marks the first time the two companies have collaborated to jointly fund one of Boston Scientific's products.