Boston Scientific to acquire California blood flow treatment manufacturer for up to $664M
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Continuing its acquisition streak into 2025, Marlborough-based medical device manufacturer Boston Scientific has entered into a definitive agreement to acquire California-based medical equipment manufacturer Bolt Medical in a transaction worth up to more than half a billion.
Boston Scientific, which currently has an equity stake of approximately 26% in Bolt Medical, in 2019 had created the concept for the company’s Bolt IVL system: a laser-based platform used to treat coronary and peripheral artery disease by breaking up hardened masses in the arteries, including calcium, to improve blood flow in a procedure known as intravascular lithotripsy.
The acquisition will cost Boston Scientific approximately $443 million for the 74% of the remaining stake and up to $221 million once certain regulatory milestones have been met, totalling a purchase price of up to $664 million, according to a Wednesday press release from Boston Scientific.
"Bolt Medical is developing a next-generation technology that is highly complementary to our existing portfolio. The addition of this system to our offerings can help us better serve physicians and their patients and provides a platform for future innovation," Lance Bates, Boston Scientific’s senior vice president and president of interventional cardiology therapies, said in the release.
Boston Scientific expects the transaction to close in the first half of 2025. The manufacturer foresees the transaction to be slightly dilutive to adjusted earnings per share this year and to ne offset via internal cost efficiencies and trade-offs. Though on a GAAP basis, Boston Scientific expects the deal to be more dilutive because of amortization expense and acquisition-related charges.
Boston Scientific’s latest acquisition announcement comes after a string of acquisitions in the later half of 2024. On Nov. 4, the manufacturer entered into a definitive agreement to acquire California medical technology company Cortex, and on Nov. 15, it completed its $3.7-billion purchase of Axonics, Inc., a publicly traded California-based medical technology firm.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
WBJ Web Partners
Most Recent
Most Recent
0 Comments