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
The month of May saw the FDA greenlight 5 new drugs, including 1 new molecular entity, and surprisingly turn down 1 drug candidate, whose approval was considered a no-brainer by some experts. Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts.
comments powered by Disqus
Follow RTT