Boston Scientific Corporation announced on November 25 that it has entered into a definitive agreement to acquire Newton, Massachusetts-based Intera Oncology Inc.
Intera Oncology is a privately held medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine – a chemotherapy drug – both of which are approved by the U.S. Food and Drug Administration. The Intera 3000 pump is used to administer hepatic artery infusion therapy to treat tumors in the liver primarily caused by metastatic colorectal cancer.
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 its fourth-quarter and full-year 2023 financial report, the company generated net sales of $14.2 billion and annual EBITDA of $3.6 billion.
Boston Scientific expects to complete the transaction in the first half of 2025, subject to closing conditions. The transaction is expected to have an immaterial impact on adjusted earnings per share in 2025 and is expected to be more dilutive on a GAAP basis due to acquisition-related net charges and amortization expenses. Specific terms of the transaction have not been disclosed.
According to data captured in the LevinPro HC database, this acquisition marks the 84th Medical Devices transaction of 2024. This is a more than 18% drop from last year when 103 Medical Devices transactions were reported between January 1, 2023, and November 25, 2023.
Additionally, this is the second transaction that Boston Scientific announced in November 2024. On November 4, It reported the acquisition of Cortex, a medical device company, for an undisclosed price.
