Boston Scientific to Acquire EndoChoice

(Alpharetta, GA, USA), which will become part of its endoscopy business after completion of the transaction.

Boston Scientific develops, manufactures and markets medical devices used in a range of interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology.

EndoChoice focuses on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, as well as devices, infection control products and pathology services for gastrointestinal specialists. The company’s portfolio includes single-use devices, such as resection and retrieval devices, needles, graspers and infection control kits.

Both the companies have entered into a definitive agreement under which Boston Scientific will launch a tender offer for all of EndoChoice’s outstanding shares at a cash price of USD 8 per share. The total equity value of the deal is approximately USD 210 million and the transaction is expected to close in the fourth quarter.

"The addition of EndoChoice products and services to our portfolio supports our strategy to provide comprehensive solutions to gastroenterology caregivers and the patients they serve," said Art Butcher, senior vice president and president, Boston Scientific, endoscopy. "We expect the acquisition to expand our leadership into new categories in the endoscopy market, and to drive strong, continued growth of our endoscopy business."

Mark Gilreath, founder and chief executive officer, EndoChoice, said, "The combination of our broad portfolio of products and services for the gastroenterology physician, with the complementary products and large global infrastructure of the Boston Scientific endoscopy business, creates an enhanced growth platform for both businesses, and delivers immediate value for our shareholders."

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