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
Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Transmission utility ITC Holdings Corp. announced Tuesday that it has entered into an agreement and plan of merger to be acquired by Canadian electric and gas utility company Fortis Inc. in a deal valued at approximately $11.3 billion. ITC shareholders will receive $22.57 in cash and 0.7520 Fortis shares per ITC share. The Coca-Cola Company (KO) reported that its fourth-quarter net income to shareowners increased to $1.24 billion or $0.28 per share from $770 million or $0.17 per share, last year. Adjusted earnings per share was $0.38, for the quarter. On average, 21 analysts polled by Thomson Reuters expected the company...
comments powered by Disqus
RELATED NEWS
Trade BSX now with 
Follow RTT