logo
Share SHARE
FONT-SIZE Plus   Neg

Boston Scientific To Buy Bayer's Interventional Division For $415 Mln.

Boston Scientific Corp. (BSX) on Thursday agreed to buy the Interventional Division of Bayer AG (BAYZF.PK,BAYRY.PK,BYR.L) for $415 million in cash.

Bayer Interventional Division designs and makes products to treat coronary and peripheral vascular disease. In 2013, Bayer Interventional generated sales of about $120 million. The deal is expected to close in second half of 2014. Boston plans to fuse the division with its Boston Scientific Peripheral Interventions business.

Boston expects the deal to provide it access to a number of attractive segments in the peripheral space, including the growing atherectomy and thrombectomy categories.

"We expect this acquisition will help fuel continued growth for the company and we are looking forward to welcoming the team from Bayer Interventional to Boston Scientific," said Mike Mahoney, president and chief executive officer, Boston Scientific.

The company currently expects the transaction to be immaterial to adjusted earnings in 2014, but accretive by about $0.01 in 2015 and increasingly accretive thereafter.

BSX is currently trading at $12.59, down $0.20 or 1.56%, on the NYSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
Follow RTT