Massachusetts-based Boston Scientific Corporation announced on Aug. 15 its acquisition of Obsidio, Inc., a medical device company headquartered in Columbia, South Carolina, for an undisclosed price. The transaction is expected to be immaterial to Boston Scientific’s GAAP and adjusted earnings per share in 2022.
Founded in 2019, Obsidio, Inc. is pioneering an injectable solid biomaterial platform technology with broad applications in interventional radiology and interventional oncology. The company’s first product, Gel Embolic Material (GEM), is used for embolization of blood vessels in the peripheral vasculature.
Boston Scientific develops and manufactures minimally invasive medical devices used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology and gynecology. Boston Scientific’s revenue for the twelve months ending June 30, 2022 was $12.3 billion, a 10.12% increase year-over-year.
According to the LevinPro HC database, this marks the 81st Medical Devices transaction of 2022 and the 14th announced during the third quarter. This also marks Boston Scientific’s second acquisition in the Medical Devices space since the start of the year. In June, the company announced its acquisition of M.I.Tech Co., a publicly traded Korean manufacturer and distributor of medical devices for endoscopic and urologic procedures, for $230 million.
