US: Boston Scientific closes $4B BTG purchase

Boston Scientific announced on Monday, August 19, that it finished its US$4 billion acquisition of BTG. The Marlborough, Massachusetts-based medtech giant reported that the transaction will be immaterial to adjusted earnings per share this year, thanks to – among other factors – the deal closing later than initially anticipated.

To satisfy antitrust regulators, Boston Scientific is also in the process of selling its global embolic microspheres portfolio to Varian Medical Systems. Earlier this month, Boston Scientific got the official go-ahead from the Federal Trade Commission and British regulators.

The largest division of British medtech company BTG makes devices for vascular and oncology applications. BTG also makes overdose and antivenin drugs for snakebites.

“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,” Boston Scientific’s chairman & CEO Mike Mahoney said in prepared remarks.