Boston Scientific closes $1.2B acquisition of California stroke prevention device maker
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Boston Scientific, a Marlborough medical device manufacturer, has officially closed its acquisition of California medical device maker Silk Road Medical, almost exactly three months to the day since Boston Scientific signed its purchase agreement.
At a purchase price of $27.50 per share, Silk Road’s acquisition reflects an enterprise value of nearly $1.18 billion, according to a Tuesday press release from Boston Scientific.
With the acquisition, Boston Scientific will produce Silk Road’s stroke prevention and carotid artery disease prevention products used in transcarotid artery revascularization: a minimally invasive procedure designed to prevent strokes by stopping plaque from reaching the brain by opening a narrowed carotid artery and temporarily redirecting blood flow
TCAR devices previously sold by Silk Road Medical are the only ones commercially available for use during the TCAR procedure, a method approved by the U.S. Food and Drug Administration in 2015.
"The integration of the TCAR platform into our portfolio means we can offer a treatment option for patients suffering from carotid artery disease that can reduce the risk of stroke and lead to improved patient outcomes," Cat Jennings, Boston Scientific president, vascular, peripheral interventions, said in the release.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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