Medical technology company Boston Scientific Corporation (NYSE: BSX) announced on Monday that it has entered into a definitive agreement to acquire Cortex Inc, a medical technology firm backed by Ajax Health.

This acquisition is aimed at enhancing Boston Scientific's electrophysiology portfolio.

Cortex specialises in advanced diagnostic mapping for atrial fibrillation (AF), a heart condition affecting nearly 38 million people globally. Its flagship OptiMap System, which received FDA 510(k) clearance in 2023, uses a proprietary basket catheter and algorithm to identify AF triggers beyond the pulmonary veins, providing precise insights for tailored cardiac ablation. Data from Cortex's FLOW-AF clinical trial shows that OptiMap-guided ablation improved freedom from AF by 51% over traditional pulmonary vein isolation alone. Additionally, the company has launched RESOLVE-AF, a 300-patient global trial to further assess OptiMap's efficacy in treating AF.

The acquisition is expected to close in the first half of 2025, pending customary conditions, with a minimal effect on Boston Scientific's adjusted earnings per share in 2025.

Financial terms remain undisclosed.