Terumo Corporation has announced that it has entered into a definitive agreement under which it has agreed to acquire Bolton Medical from its parent company. Bolton Medical is involved in the development, manufacturing, and distribution of thoracic and abdominal stent graft systems.
“The acquisition will enhance Terumo’s existing product portfolio in the global stent graft market and our vascular graft business will be further strengthened in the US, in what is the largest stent graft market today,” says Shinjiro Sato, president of Cardiac and Vascular company, Terumo.
The transaction is expected to close in a few months and it will be funded through cash on hand and debt. The closing is subject to antitrust clearance and other customary closing conditions. The impact of the acquisition on Terumo’s financial is currently being scrutinised.