Boston Scientific closes $4B acquisition of U.K. firm BTG
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Boston Scientific's Marlborough headquarters
Boston Scientific has closed on its $4-billion acquisition of U.K.-based cancer firm BTG nearly two weeks after U.S. trade regulators signed off on the deal.
The deal gives the Marlborough medical device firm access to BTG’s three key businesses, the largest of which is its international medicine portfolio that includes oncology therapeutic technologies for patients with liver and kidney cancers.
The company markets treatments for vascular conditions.
In a statement, Boston Scientific Chairman and CEO Mike Mahoney said the deal reinforces the company’s category leadership strategy and provides a boost to clinical evidence and commercial infrastructure.
"Leveraging the employee talent and clinical and commercial expertise of these two high-performing organizations will generate continued innovation and access so that we may advance patient care in ways that neither company could do alone,” he said.
BTG’s portfolio also includes a specialty pharmaceutical business and a licensing business that receives royalties related to BTG’s intellectual property and license agreements.
Boston Scientific said it is beginning to explore selling the royalty and licensing arrangements related to BTG’s prostate cancer drug Zytiga. That divestiture is expected to close by the end of the year.
To make way for the deal, Boston Scientific in July said it would sell its microsphere business for $90 million to a California-based biotech. That deal is not yet completed, the company said Monday.
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