Boston Scientific completes urology division deal
Marlborough-based Boston Scientific Corp. has completed its acquisition of American Medical Systems' (AMS) Men's Health and Prostate Health businesses for $1.6 billion.
The transaction includes AMS' products for treating male urologic conditions, according to Boston Scientific. These technologies complement the Boston Scientific urology portfolio, enabling further innovation for the company across five common urologic diseases that account for half of all urologic surgical procedures, the company said. The AMS women's health business is not part of the transaction.
The AMS units will be combined with Boston Scientific’s Urology and Women's Health businesses. The joint businesses will become the Boston Scientific Urology and Pelvic Health business.
"This is an exciting day as we join forces and welcome the AMS Men's Health and Prostate Health teams to Boston Scientific," Karen Prange, senior vice president and president of Urology and Pelvic Health at Boston Scientific, said in a statement. "Together, we create a business with nearly $1 billion in annual sales, strong future growth prospects through innovation and market expansion, and a significant opportunity to address unmet medical needs.”
The acquisition is expected to result in annual pre-tax synergies in excess of $50 million by the end of 2018, Boston Scientific said.
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