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
Johnson & Johnson has announced that it plans to separate its Consumer Health business, leaving the new Johnson & Johnson to focus on pharmaceuticals and medical devices. Alex Gorsky, current CEO, will become the Executive Chairman of the new Johnson & Johnson. Joaquin Duato, currently Vice Chairman of the Company’s Executive Committee, will become the new CEO.
Novo Nordisk today announced that it has entered into a definitive agreement to acquire Dicerna Pharmaceuticals (Dicerna). The acquisition of Dicerna’s ribonucleic acid interference (RNAi) platform is a strategic addition to Novo Nordisk’s existing research technology platforms and supports the strategy of using a broad range of technology platforms applicable across all Novo Nordisk’s therapeutic focus areas.
Naomi predicts that start-ups will continue to take over the healthcare industry, and Big Pharma companies will be forced to adapt to the future by partnering with small tech start-ups, or fade away due to irrelevance. Discover more of industry leader Naomi Fried’s insights as she discusses the future of healthcare with Andrew Kris of Borderless