Boston Scientific Corporation (BSX) has entered into a definitive agreement to acquire Apollo Endosurgery, Inc. (APEN) for a cash price of $10 per share, reflecting an enterprise value of approximately $615 million. Boston Scientific expects the impact to adjusted earnings per share to be immaterial in 2023, and accretive thereafter.
The Apollo Endosurgery product portfolio includes devices used during endoluminal surgery procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss for patients suffering from obesity.
In July 2022, Apollo Endosurgery received FDA de novo clearance for its Apollo ESG, Apollo ESG Sx, Apollo REVISE and Apollo REVISE Sx Systems.
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