Boston Scientific to buy Baylis Medical for USD 1.75 billion: Bloomberg
New Delhi: Boston Scientific Corp. will buy Baylis Medical for an upfront payment of $1.75 billion to expand its offering of approved technologies for heart patients.
The acquisition, which is subject to closing adjustments, is expected to generate net sales of almost $200 million in 2022, Massachusetts-based Boston Scientific said in a statement. The deal is expected to close in the first quarter of next year.
Some life-saving cardiac procedures involve puncture of the septum, the dividing wall between the heart's two sides. Closely held Baylis makes a variety of guidewires, sheaths and other devices that can improve safety and effectiveness of therapies delivered to the left side of the heart.
"We look forward to making these life-changing technologies available to more patients across the globe through the significant commercial reach of Boston Scientific," Kris Shah, president of Baylis, said in the statement.