Boston Scientific acquires BTG for $4.2bn
Medical device manufacturer Boston Scientific today announced that it will acquire UK-based healthcare company BTG for $4.2 billion.
The transaction has been unanimously approved by both boards of directors and is expected to close in the first half of 2019.
BTG develops and commercialises products which are used in procedures targeting cancer and vascular diseases.
The company has an interventional medicine portfolio with multiple product lines, including the TheraSphere Y-90 radiotherapy microspheres system and the GALIL cryoablation system, both of which are used to treat liver, kidney, and other cancers.
BTG’s EKOS Endovascular System, which is used in combination with clot-dissolving drugs to restore blood flow in patients, was the first device approved by the US Food and Drug Administration for the treatment of pulmonary embolism.
Mike Mahoney, chairman and CEO of Boston Scientific, said: "The acquisition of BTG and its rapidly growing peripheral interventional portfolio is an exciting extension of our category leadership strategy that will augment our capabilities in important areas of unmet need such as cancer and pulmonary embolism.”
Boston Scientific will also acquire BTG’s portfolio of acute care antidotes which treat overexposure to certain medications and toxins. BTG’s licensing business will also be acquired as part of the deal.
Louise Makin, CEO of BTG, said: “Boston Scientific shares our commitment to transforming patient care, and has a sustained track record of innovation, clinical expertise and global commercial capabilities.
"The combined organisation will be well positioned for success, enabling our valuable products to make a real difference to more people around the world.”
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