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Boston Scientific Closes Acquisition of Silk Road Medical, Inc.
MARLBOROUGH, Mass. -- Boston Scientific Corporation announced the close of its acquisition of Silk Road Medical, Inc., a medical device company that pioneered a new approach for stroke prevention and the treatment of carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization (TCAR).
"Completing this acquisition enables Boston Scientific to strengthen our vascular technology solutions by bringing the innovative TCAR platform to a greater number of physicians and their patients through our significant commercial reach," said Cat Jennings, president, Vascular, Peripheral Interventions, Boston Scientific. "The integration of the TCAR platform into our portfolio means we can offer a treatment option for patients suffering from carotid artery disease that can reduce the risk of stroke and lead to improved patient outcomes."
The acquisition includes a purchase price of $27.50 per share, reflecting an enterprise value of approximately $1.18 billion.i The impact to Boston Scientific adjusted earnings per share is expected to be immaterial in 2024 and 2025, and accretive thereafter. The impact to GAAP earnings per share is expected to be less accretive, or dilutive, as the case may be, due to amortization expense and acquisition-related net charges.
About Boston Scientific
Boston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of health care. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and connect on LinkedIn and X, formerly Twitter.
i Enterprise value of approximately $1.18 billion based on approximately 46.5 million fully diluted shares (or approximately $1.28 billion for 100% of the equity) and an estimated $104 million net cash position
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