Medical device maker Boston Scientific Corp., which has major business operations in Minnesota, closed on its previously announced acquisition of Georgia-based EndoChoice for about $210 million in cash.
EndoChoice’s products in infection control, pathology services and single-use medical devices will be folded into Boston Scientific’s offerings for gastrointestinal doctors who work in group practices, hospitals and stand-alone surgery centers.
Regarding one of EndoChoice’s key products — the Full Spectrum Endoscopy (FUSE) colonoscope — Boston Scientific said it is evaluating “strategic options” for the device and will announce its plans for it by the end of the year.
The scope offers the GI doctor panoramic, 330-degree views inside the anatomy. In one study, FUSE detected 69 percent more tumors than traditional forward-looking scopes.
“Boston Scientific is a leader in the field of endoscopy and we are committed to providing innovative products and services to meet the changing and growing needs within the field,” said Boston Scientific Senior Vice President Art Butcher in a news release about the EndoChoice deal Tuesday.
The offer to acquire EndoChoice for $8 per share was first announced on Sept. 27.
For the year ended Sept. 30, EndoChoice had $75 million in total sales. Boston Scientific expects the deal to be neutral to adjusted earnings this year, and to be profitable thereafter.
By Joe Carlson
Source: Star Tribune
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
