Best known for developing stents to prop open clogged heart arteries – the US-based Boston Scientific Corp has formally announced its plan to buy UK’s BTG Plc. for $4.2 billion, in its bid to extend its market share in the field of interventional medicine. This acquisition is one of the largest done by Boston Scientific over the last decade. BTG is a reputed player for developing and commercializing products that are used in minimally-invasive procedures that target cancer and vascular diseases along with acute care pharmaceuticals.
Giving a comprehensive insight to the acquisition, Mike Mahoney – Chairman CEO, Boston Scientific shared his views – “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.” He further adds – “We are confident that the addition of these therapies to our portfolio will ultimately advance patient care in ways that could not be realized by either company alone, while also allowing us to realize substantial revenue and cost synergies and provide a strong return for investors.”
Terming the offer as ‘reasonable’, industry experts are having an affirmative opinion. “BTG’s eclectic product mix made a counterbid unlikely, despite past competition for interventional oncology products”, is how Peter Welford from Jefferies analyst evaluates this development.