Boston Scientific to acquire Baylis Medical Company for $1.7bn
Boston Scientific has agreed to acquire Baylis Medical Company, a Canadian medical devices manufacturer in the field of cardiology, for $1.75 billion.
The deal does not include Baylis Medical Technologies, which develops medical devices in the fields of neurosurgery and radiology.
Through the acquisition of Baylis Medical Company, Boston Scientific will get access to the NRG Transseptal Platform and the VersaCross Transseptal Platform along with its full suite of transseptal sheaths and dilators, and ventricular tachycardia solutions.
Baylis Medical Company is projected to register net sales of around $200 million in 2022, said Boston Scientific.
Baylis Medical Company had secured the US Food and Drug Administration (FDA) 510(k) clearance for the NRG Transseptal Platform in 2008. Since then, the technology is said to have been used in over a million procedures.
Last year, the company bagged the FDA 510(k) clearance for the VersaCross Transseptal Platform.
Boston Scientific to acquire Baylis Medical Company for $1.7bn. Photo courtesy of Baylis Medical Company, Inc.
The two transseptal platforms are complemented by a family of guidewires, sheaths, and dilators, used in left-sided diagnostic, mitral, ablation, and left atrial appendage closure (LAAC) procedures.
Kris Shah — president of Baylis Medical Company said: “As a leading innovator in left heart access solutions, we develop advancements that help physicians deliver critical, high-precision therapies, which raise the standard of care for patients.
“We look forward to making these life-changing technologies available to more patients across the globe through the significant commercial reach of Boston Scientific.”
Boston Scientific’s acquisition of the Canadian medical device manufacturer will broaden its electrophysiology and structural heart product portfolios.
Mike Mahoney — chairman and CEO of Boston Scientific said: “The talented and innovative Baylis Medical Company team, combined with these transseptal platforms, will enhance our efforts to improve procedural efficiencies with physician tools designed to make left atrial access safer and more predictable, with a focus on patient outcomes.
“A leader in many of the fastest growing markets in our industry, we believe that Baylis Medical Company will add meaningful revenue, operating income, and new research and development capabilities across multiple Boston Scientific businesses, while complementing existing offerings within our electrophysiology and structural heart portfolios.”
The deal, which is subject to customary closing conditions, is expected to close in Q1 2022.
Last month, Boston Scientific had completed the previously announced $1bn acquisition of Lumenis surgical business.
The US medical device manufacturer had also signed a deal worth up to $336 million in late September 2021 to takeover Devoro Medical, a developer of the WOLF Thrombectomy Platform.