Boston Scientific Announces Agreement on Terms to Acquire BTG plc
November 20, 2018—Boston Scientific Corporation has reached an agreement on terms of a recommended offer to acquire BTG plc. According to a company announcement, the boards of directors for both companies have unanimously approved the transaction, the total cash consideration for which is £3.3 billion or $4.2 billion USD.
The transaction is expected to close in the first half of 2019.
BTG portfolio includes vascular lines such as the Ekos Endovascular System, filters, crossing catheters, and microfoam, as well as a significant interventional oncology business including TheraSphere Y-90 radiotherapy microspheres and the Galil cryoablation system.
"The acquisition of BTG and its rapidly growing peripheral interventional portfolio is an exciting extension of our category leadership strategy that will augment our capabilities in important areas of unmet need such as cancer and pulmonary embolism," said Mike Mahoney, Chairman and Chief Executive Officer for Boston Scientific in the company's announcement. "We are confident that the addition of these therapies to our portfolio will ultimately advance patient care in ways that could not be realized by either company alone, while also allowing us to realize substantial revenue and cost synergies and provide a strong return for investors."
"Boston Scientific shares our commitment to transforming patient care, and has a sustained track record of innovation, clinical expertise, and global commercial capabilities," commented Dame Louise Makin, Chief Executive Officer for BTG. "The combined organization will be well positioned for success, enabling our valuable products to make a real difference to more people around the world."