Boston Scientific Corporation closed on its previously announced agreement to purchase the Interventional business of Bayer AG. The acquisition enhances the ability of Boston Scientific to offer physicians and healthcare systems a more complete portfolio of solutions to treat challenging vascular conditions.
The addition of the Bayer Interventional strong commercial organisation and innovative technologies supports the Boston Scientific strategy to provide a comprehensive portfolio of leading solutions to treat peripheral vascular disease. The transaction includes the leading AngioJet thrombectomy system and the Fetch 2 aspiration catheter, which are used in endovascular procedures to remove blood clots from blocked arteries and veins, and the JetStream atherectomy system, used in an innovative and fast-growing therapy to remove plaque and thrombi from diseased arteries.
“We look forward to welcoming the Bayer Interventional team to Boston Scientific, and we are confident that the addition of its innovative technologies will help us bring unique value to healthcare systems worldwide,” says Jeff Mirviss, president, Peripheral Interventions, Boston Scientific. “Physicians who perform endovascular procedures encounter a variety of challenging conditions and require a broad-range of tools to treat these difficult disease states. The inclusion of the leading thrombectomy device and a differentiated atherectomy technology adds meaningful breadth to our product portfolio and will allow us to help physicians save the lives and limbs of more patients worldwide.”
The company expects the transaction to be immaterial to adjusted earnings per share in 2014, accretive by approximately US$.01 in 2015 and increasingly accretive thereafter. On a GAAP earnings per share basis, the company expects the transaction to be slightly dilutive in 2014, immaterial in 2015, and less accretive than on an adjusted earnings per share basis thereafter as a result of acquisition-related net charges and amortization, which will be determined following the closing.