Boston Scientific Acquires Provider Of Thrombectomy Platform In Over $300M Deal

Boston Scientific has agreed to acquire Devoro Medical Inc for over 300 million.

Boston Scientific has been a strategic investor in Devoro Medical since 2019 and currently holds an equity stake of approximately 16%.

The deal consists of an upfront payment of approximately $269 million for the remaining 84% stake and up to $67 million as milestone payments.

Devoro Medical is a developer of the WOLF Thrombectomy Platform.

The non-console and lytic-free WOLF technology targets and rapidly capture blood clots using finger-like prongs that retrieve and remove thrombi in the arterial and venous systems.

On an adjusted basis, the transaction is expected to be slightly dilutive to EPS in 2021, which Boston Scientific expects to offset via internal cost efficiencies and trade-offs.

The transaction will be less dilutive on a GAAP basis due to a one-time gain recognized at closing associated with a previously held equity interest in Devoro Medical.

In 2022, the transaction is not expected to impact adjusted EPS and will be slightly dilutive on a GAAP basis due to amortization expense and acquisition-related charges. The transaction will close in Q4 of 2021.

Price Action: BSX stock is up 0.07% at $43.67 during the premarket session on the last check Tuesday.