Boston Scientific to acquire majority stake of interventional device company for $523M
Boston Scientific has announced its plan to acquire a majority stake of Acotec Scientific Holdings, a Chinese healthcare technology company, for approximately $523 million.
Acotec, first founded in 2008, designs and distributes a wide range of medical devices used in interventional cardiology, including drug-coated balloons (DCBs) and thrombus aspiration catheters. The company totaled approximately $53 million in sales in the 12-month period ending June 30, 2022.
The deal, which expected to be finalized in the first half of 2023, would give Boston Scientific as much as 65% of Acotec. Additional details Boston Scientific presented to investors are available here.
“Acotec is a profitable, fast-growing company with a strong portfolio and innovative pipeline of medical technologies, and we believe this investment will generate growth opportunities for both companies," Art Butcher, Boston Scientific’s executive vice president and group president of MedSurg and Asia Pacific, said in a prepared statement. “We expect completion of the partial offer to further strengthen our presence in China and create the potential for commercialization of Acotec products globally, providing an increased number of physicians and patients access to our robust and complementary product portfolios.”
Boston Scientific highlighted some of Acotec’s most popular solutions during its presentation to investors. This included the Orchid and Dhalia paclitaxel DCBs, which are designed to prevent stenosis or occlusion in the superficial femoral and popliteal arteries while treating peripheral artery disease, and the Tulip and Litos paclitaxel DCBs, which are designed to prevent stenosis or occlusion in the below-the-knee arteries while treating chronic limb-threatening ischemia.
Boston Scientific has made a number of big acquisitions in 2022. Read more about some of those other transactions here, here and here.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.