The US$415 million cash acquisition is expected to strengthen Boston Scientific’s peripheral interventions business and accelerate growth in peripheral atherectomy and thrombectomy categories.
In a move to expand significantly its portfolio of leading solutions for peripheral interventions, Boston Scientific has entered into a definitive agreement to acquire the Interventional Division of Bayer AG for US$415 million in cash, including fees for transitional services. The company expects to close the transaction in the second half of 2014, subject to customary closing conditions.
The addition of Bayer Interventional’s strong commercial organisation and innovative technologies supports Boston Scientific’s strategy to provide a comprehensive portfolio of leading solutions to treat peripheral vascular disease. The acquisition is expected to improve Boston Scientific’s access to a number of attractive segments in the peripheral space, including the growing atherectomy and thrombectomy categories. In 2013, Bayer Interventional generated sales of approximately US$120 million.
Bayer Interventional has approximately 350 employees and offers a number of innovative technologies designed to treat coronary and peripheral vascular disease. The transaction includes the AngioJet Thrombectomy System and the Fetch 2 Aspiration Catheter, which use endovascular techniques to remove blood clots from blocked arteries and veins, and the JetStream Atherectomy System, a minimally invasive device used to remove plaque from diseased peripheral arteries.
“These technologies help physicians save both limbs and lives, and we believe this transaction will enable us to reach more effectively the greater than 27 million patients worldwide who suffer from the debilitating effects of peripheral vascular disease,” said Mike Mahoney, president and chief executive officer, Boston Scientific.
Upon completion of the transaction, Bayer Interventional will become part of the existing Boston Scientific Peripheral Interventions business.