Boston Scientific Corp., a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices, announced on November 29 it acquired Apollo Endosurgery in a $615 million deal.
Under terms of the deal, Boston Scientific will pay $10 per share to acquire Apollo Endosurgery. Boston Scientific expects to complete the deal in the first half of 2023 and the company expects the acquisition to be accretive to its earnings per share after 2023.
Apollo Endosurgery is known for manufacturing medical devices used during endoluminal surgery procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss for patients suffering from obesity. Apollo Endosurgery is expected to report $76 million in revenue for 2022.
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.
According to the LevinPro HC database, this marks the 108th Medical Devices transaction of 2022. This also marks Boston Scientific’s third acquisition of the year. The company purchased a majority stake in M.I.Tech Co. in June 2022 for $230 million, and then acquired Obsidio in August 2022.
