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Boston Scientific Acquires Medical Device Company BTG For $4.2 Billion
Nov 26, 2018

The price of the acquisition is about 8.4 pounds, a 36.6% premium over the Monday's BTG closing price of 6.15 pounds, compared to the stock's nearly 90-day volume-weighted average premium of 51%. On Tuesday, BTG's stock price rose 35% to 8.32 pounds, the highest level since January 2015.

 

Founded in 1991 and headquartered in London, UK, BTG is an international medical device manufacturer and pharmaceutical company dedicated to the development of commercial intensive care, oncology, neurological and other disease-related medical products. BTG's largest production department is responsible for the production of medical equipment related to oncology and vascular diseases. Another specialty of the company is the development of drugs for the treatment of overdose and against rattlesnake bites. But in recent years, the company has shifted its focus to the field of interventional medicine, mainly to develop medical products for drug delivery.

 

Boston Scientific said it is optimistic about BTG's rapid growth in interventions in recent years, and said the acquisition will allow BTG's interventional medical product portfolio as an extension of its category leadership strategy to enhance their unmet needs in cancer and pulmonary embolism. The ability of important areas. Last year, researchers launched the first clinical trial of BTG microbeads, which contain targeted anticancer drugs for the treatment of patients with primary liver cancer and metastatic colorectal cancer.

 

Mike Mahoney, Chairman and CEO of Boston Scientific, said: "We believe that adding these therapies to our portfolio will ultimately drive patient care in ways that the two companies alone cannot achieve, while also enabling us to achieve significant results. Revenue and cost synergies and provide investors with a strong return."

 

The transaction will be conducted in a combination of cash and debt and is expected to be completed in the first half of 2019.

 

In recent years, in order to expand its business and product portfolio, Boston Scientific has opened a crazy global “buy and buy” model. Last month, it just acquired Augmenix, a medical device company based in Massachusetts, USA for $600 million.


Source from:


http://news.pharmnet.com.cn/news/2018/11/22/512423.html




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