Sector News

Boston Scientific closes on its purchase of EndoChoice

November 23, 2016
Life sciences

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

comments closed

Related News

March 24, 2024

Johnson Matthey to sell its Medical Devices business for $700 million

Life sciences

Johnson Matthey Plc (JM; London) announced that it has signed a definitive agreement to sell 100% of its Medical Device Components business (MDC) to Montagu Private Equity (Montagu) for cash consideration of US$700 million (£550 million) on a cash free debt free basis.

March 24, 2024

Lonza acquires biologics manufacturing plant in California from Roche

Life sciences

Lonza AG (Basel, Switzerland) announced it has signed an agreement to acquire the Genentech large-scale biologics manufacturing site in Vacaville, Calif. from Roche (Basel, Switzerland) for $1.2 billion. The acquisition will significantly increase Lonza’s large-scale biologics manufacturing capacity.

March 24, 2024

Roquette to acquire IFF Pharma Solutions to boost global excipient presence

Life sciences

Roquette plans to acquire International Flavors & Fragrances (IFF) Pharma Solutions for an enterprise value of up to €2.85 billion (US$3.09 billion). With the acquisition set to close in the first half of 2025, the plant-based ingredient and pharmaceutical excipients supplier aims to reinforce its position in the pharmaceutical industry.

How can we help you?

We're easy to reach