Boston Scientific wraps up $4.2bn acquisition of BTG

Boston Scientific acquisition of BTG : US medical devices manufacturer Boston Scientific has wrapped up its previously announced $4.2 billion acquisition of UK-based healthcare company BTG.

In November 2018, Boston Scientific reached an agreement on the terms of a recommended offer to acquire the British healthcare company for a cash consideration of 840 pence per share.

The transaction was closed after receiving the necessary regulatory approvals and the approval of shareholders of BTG and the UK court.

The UK healthcare company operates three key businesses – an interventional medicine portfolio encompassing interventional oncology therapeutic technologies targeting liver and kidney cancers, and also a vascular portfolio for deep vein thrombosis, pulmonary embolism, deep venous obstruction, and superficial venous disease.

Boston Scientific acquisition of BTG. Photo courtesy of Boston Scientific Corporation.

BTG’s portfolio also includes a specialty pharmaceutical business and a licencing business that secures royalties linked to its intellectual property and product licence agreements. Included in the specialty pharmaceutical business are acute care antidotes for the treatment of overexposure to some medications and toxins.

Commenting on Boston Scientific acquisition of BTG, Mike Mahoney – chairman and CEO of Boston Scientific said: “The addition of the BTG Interventional Medicine portfolio reinforces our category leadership strategy and enables us to offer best-in-class technologies, unparalleled clinical evidence and a strengthened commercial infrastructure to support physicians treating some of the most challenging diseases impacting patient health around the world.

“Leveraging the employee talent and clinical and commercial expertise of these two high-performing organizations will generate continued innovation and access so that we may advance patient care in ways that neither company could do alone.”

Boston Scientific said that it is likely to close the previously announced divestiture of its global embolic microspheres portfolio, made up Embozene, Embozene TANDEM, and ONCOZENE brands to Varian Medical Systems in due course of time to obtain the antitrust clearances needed to wrap up the BTG transaction.

Apart from that, the US medical devices manufacturer is starting a process to explore the sale of the royalty stream related to BTG’s Zytiga licensing arrangements and expects it to be completed by the year-end.

Recently, Boston Scientific signed a deal to acquire Vertiflex, a California-based manufacturer of spinal medical devices, for $465 million. Read Boston Scientific acquisition of Vertiflex here.

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