Boston Scientific Corp said on Wednesday it would acquire Canada-based privately held medical device maker Baylis Medical Company Inc for $1.75 billion to expand its electrophysiology and heart product portfolios.
The deal, expected to close in the first quarter of 2022, will give Boston Scientific access to Baylis’ NRG and VersaCross platforms that use radiofrequency to facilitate access to the left side of the heart for procedures.
Boston Scientific will also get access to Baylis’ family of guidewires, sheaths and dilators used in such procedures.
“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,” Boston Scientific Chief Executive Officer Mike Mahoney said.
Boston Scientific expects Baylis to generate net sales of about $200 million next year.
Source: Reuters.com