logo
Share SHARE
FONT-SIZE Plus   Neg

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

Boston Scientific Corp. (BSX: Quote) 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
Uber Technologies Inc., the company behind the famous ride-sharing app, is expanding its pilot food delivery service program, UberEATS, to New York City and Chicago. Uber's new pilot program allows customers to order a meal that will be delivered to them within ten minutes. There is a $3 delivery... Standard Chartered said it is still reviewing whether to shift its headquarters out of London, at a time when banks in Britain face higher levy and regulatory costs. Tyson Foods Inc. (TSN) Tuesday said it plans to eliminate the use of human antibiotics from its chicken production, as the meat producing giant joins other peers who have taken similar steps in the wake of health concerns. Tyson Foods said it is striving to eliminate the use of antibiotics from its...
comments powered by Disqus
RELATED NEWS
Trade BSX now with 
Follow RTT