Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0801
    +0.0008 (+0.08%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • dólar/libra

    1.2634
    +0.0011 (+0.09%)
     
  • USD/JPY

    151.2110
    -0.1610 (-0.11%)
     
  • Bitcoin USD

    70,163.41
    -300.39 (-0.43%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Boston Scientific Acquires Provider Of Thrombectomy Platform In Over $300M Deal

  • Boston Scientific Corporation (NYSE: BSX) has agreed to acquire Devoro Medical Inc for over 300 million.

  • Boston Scientific has been a strategic investor in Devoro Medical since 2019 and currently holds an equity stake of approximately 16%.

  • The deal consists of an upfront payment of approximately $269 million for the remaining 84% stake and up to $67 million as milestone payments.

  • Devoro Medical is a developer of the WOLF Thrombectomy Platform.

  • The non-console and lytic-free WOLF technology targets and rapidly capture blood clots using finger-like prongs that retrieve and remove thrombi in the arterial and venous systems.

  • On an adjusted basis, the transaction is expected to be slightly dilutive to EPS in 2021, which Boston Scientific expects to offset via internal cost efficiencies and trade-offs.

  • The transaction will be less dilutive on a GAAP basis due to a one-time gain recognized at closing associated with a previously held equity interest in Devoro Medical.

  • In 2022, the transaction is not expected to impact adjusted EPS and will be slightly dilutive on a GAAP basis due to amortization expense and acquisition-related charges. The transaction will close in Q4 of 2021.

  • Read Next: Boston Scientific Posts Colorectal Cancer Survival Data For Tumor-Targeting Microbeads

  • Price Action: BSX stock is up 0.07% at $43.67 during the premarket session on the last check Tuesday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement