Boston Scientific closes $210M GI acquisition
Courtesy Boston Scientific
Boston Scientific's Global Headquarters are located in Marlborough.
Medical device manufacturer Boston Scientific has finalized the $210-million acquisition of EndoChoice Holdings, Inc. in Georgia, the Marlborough company announced Tuesday.
The announcement marks the completion of an acquisition that was agreed upon on Sept. 27, but had been extended. EndoChoice is a company focused on the development and commercialization of infection control products, pathology services and single-use devices for specialists treating a wide range of gastrointestinal (GI) conditions, according to Boston Scientific. It will become a subsidiary of Boston Scientific.
The purchase at $8 per share includes the company as well as its products and services. The acquisition is expected to be breakeven for Boston Scientific’s adjusted earnings per share in 2017. EndoChoice generated approximately $75 million of total sales in the 12-month period ended Sept. 30, according to Boston Scientific.
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