USA – Boston Scientific has announced that it has completed its US$1.75 billion upfront acquisition of Baylis Medical.
Boston Scientific announced on Oct. 6, 2021, that it had agreed to acquire the Canadian company in order to expand its 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 Baylis platforms are designed for advanced transseptal puncture. According to Boston Scientific, Baylis’ platforms have been clinically proven to improve safety, efficacy, and efficiency when crossing the atrial septum to deliver therapies to the left side of the heart.
The platforms developed by Baylis are used in procedures such as AFib ablation, left atrial appendage closure (LAAC), and mitral valve interventions.
The addition of Baylis could significantly boost Boston Scientific’s already well-performing Watchman LAA device.
The close of this acquisition allows Boston Scientific to integrate the Baylis platforms with our existing electrophysiology and structural heart offerings, further strengthening our position within the highest growth cardiology markets.”
Boston Scientific expects the US$1.75 billion acquisition to be approximately 1 cent accretive to adjusted earnings per share in 2022.
Following that, it will become increasingly accretive. Due to amortization expense and acquisition-related net charges, the company expects the transaction to be less accretive or dilutive in 2022 and less dilutive or increasingly accretive after that.
Boston Scientific said in the past that it anticipates Baylis Medical will generate net sales approaching US$200 million in 2022 and noted that the company has achieved double-digit year-over-year sales growth over each of the past five years.
In other news, earlier on Royal Philips signed an agreement to acquire Cardiologs, a Paris-based healthcare technology company known for its AI- and cloud-based cardiac solutions.
At this time, no financial details have been released. The acquisition of Cardiologs, which employs approximately 70 people, is expected to be finalized in the months ahead.
While Philips already manufacturers and sells several cardiac devices in the patient monitoring, telehealth and informatics spaces, the addition of Cardiologs gives the company a wide range of new offerings that use machine learning algorithms to screen and diagnose patients.
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