Blog Exposure – Boston Scientific Acquired EMcision for Undisclosed Amount

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LONDON, UK / ACCESSWIRE / March 07, 2018 / Active-Investors.com has just released a free research report on Boston Scientific Corp. (NYSE: BSX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BSX as the Company’s latest news hit the wire. On March 05, 2018, the Company announced that it has closed the acquisition of London and Montreal-based company, EMcision Ltd and its subsidiaries. Financial details of the transaction remain undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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The acquisition will be immaterial to Boston Scientific’s earnings per share (EPS) in 2018 on an adjusted and GAAP basis and accretive thereafter.

Acquisition Expands Boston Scientific Endoscopy Portfolio to Include HabibTM EndoHPB Probe

The acquisition will expand the Boston Scientific Endoscopy portfolio to include the HabibTM EndoHPB probe, a novel endoscopic bipolar radiofrequency device, which coagulates tissue in the gastrointestinal (GI) tract. The Habib EndoHPB, EMcision’s flagship product, is used by physicians in the treatment and palliative care of patients living with pancreaticobiliary cancers, which accounts for nearly a million deaths annually worldwide and have limited treatment options.

The Habib EndoHPB probe is cleared by the US Food and Drug Administration and received CE mark in the European Union. The HabibTM EndoHPB, was the world’s first endoscopic device for tumor ablation via ERCP using radiofrequency energy in patients with advanced and inoperable pancreatic cancer and cholangiocarcinoma.

Boston Scientific has Resources and Know-How to Further Improve EMcision’s Technology

Commenting on the acquisition, Cherif Habib, Chief Executive Officer of EMcision, stated that by partnering with Boston Scientific, EMcision will continue delivering on its mission of improving the quality of life of cancer patients on a much larger scale. Cherif added that Boston Scientific has the resources and the know-how to further improve the Company’s technology, expand clinical indications, and make it available to many more patients.

Boston Scientific’s Recent Acquisition Agreement

On January 24, 2018, Boston Scientific closed an investment and entered into an acquisition option agreement with Millipede, Inc., a privately-held company that has developed the IRIS Transcatheter Annuloplasty Ring System for the treatment of severe mitral regurgitation (MR). Under the terms of the agreements, Boston Scientific purchased a portion of the outstanding shares of Millipede along with newly issued shares of the company for a total consideration of $90 million. Boston Scientific has the option to acquire the remaining shares of the company at any time prior to the completion of a first in human clinical study that meets certain parameters. Upon the completion of the clinical study, Millipede has the option to compel Boston Scientific to acquire the remaining shares of the company. Each company’s option period expires by the end of 2019. Completion of this acquisition would result in an additional $325 million payment by Boston Scientific at closing with a further $125 million becoming payable upon achievement of a commercial milestone.

About EMcision Ltd

EMcision is a privately-held company that develops and commercializes medical devices which are clinically relevant, cost-effective, and enhance the quality of patient care. The Company specializes in radiofrequency catheters for the treatment of tissue in conjunction with advanced procedures such as ERCP and EUS. EMcision’s R&D, engineering, and commercialization operations are based in Montreal, Canada and clinical activities are based in London, UK.

About Boston Scientific Corp.

Founded in 1979 and headquartered in Marlborough, Massachusetts, Boston Scientific develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The Company operates through three segments: Cardiovascular, Rhythm Management, and MedSurg.

Stock Performance Snapshot

March 06, 2018 – At Tuesday’s closing bell, Boston Scientific’s stock ended the trading session flat at $27.41.

Volume traded for the day: 5.03 million shares.

Stock performance in the last month – up 0.07%; previous three-month period – up 4.82%; past twelve-month period – up 10.70%; and year-to-date – up 10.57%

After yesterday’s close, Boston Scientific’s market cap was at $37.64 billion.

Price to Earnings (P/E) ratio was at 39.38.

The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry.

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