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
The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.
BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.
Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.
