Boston Scientific acquires Baylis Medical’s cardiology business for $1.75B
Boston Scientific announced Oct. 6 that is has entered into a definitive agreement to acquire Baylis Medical Company Inc. in a deal worth $1.75 billion.
The transaction is expected to close in the first quarter of 2022.
Baylis Medical’s affiliate, Mississauga, Ont.-based Baylis Medical Technologies, is not part of the transaction.
The acquisition is expected to increase Boston Scientific’s electrophysiology and structural heart product portfolios to include the radiofrequency (RF) NRG and VersaCross Transseptal Platforms as well as a family of guidewires, sheaths and dilators used to support left heart access.
"The talented and innovative Baylis Medical Company team, combined with these transseptal platforms, will enhance our efforts to improve procedural efficiencies with physician tools designed to make left atrial access safer and more predictable, with a focus on patient outcomes," said Mike Mahoney, chairman and chief executive officer, Boston Scientific, in a statement. "A leader in many of the fastest growing markets in our industry, we believe that Baylis Medical Company will add meaningful revenue, operating income, and new research and development capabilities across multiple Boston Scientific businesses, while complementing existing offerings within our electrophysiology and structural heart portfolios."
"We are thrilled that Boston Scientific has committed to continue the Baylis Medical Company legacy and will further enhance our efforts to bring these technologies to a greater number of physicians and patients with their significant global reach,” said Kris Shah, president, Baylis Medical, in a statement. "As well, we look forward to increasing our investments in our Baylis Medical Technologies business and in Canada’s rich medical technology industry.”
Baylis Medical Company develops cardiac related medical devices in the field of cardiology and Baylis Medical Technologies manufactures medical devices for the radiology and neurosurgery sectors.