A Co. Galway company which has developed a stent that slowly releases heart medicine has been taken over by Boston Scientific.

The medical devices multinational has acquired Labcoat Limited for an undisclosed fee, it was confirmed this afternoon.

Labcoat has developed technology designed to improve the accuracy of drug delivery and speed-up healing after stent implantation.

Boston Scientific has said it plans to evaluate the technology for use on some of its stents.