Boston Scientific to acquire Baylis Medical Co. for $1.75 billion

Boston Scientific Corp. BSX, -1.04% said Wednesday it has entered an agreement to acquire Baylis Medical Co. Inc. for an upfront payment of $1.75 billion. The deal will "expand the Boston Scientific electrophysiology and structural heart product portfolios to include the radiofrequency (RF) NRG(R) and VersaCross(R) Transseptal Platforms as well as a family of guidewires, sheaths and dilators used to support left heart access," Boston Scientific said in a statement. "These platforms have advanced transseptal puncture and are clinically proven to enhance safety, efficacy and efficiency when crossing the atrial septum to deliver therapies in the left side of the heart, such as atrial fibrillation ablation, left atrial appendage closure (LAAC) and mitral valve interventions." Baylis is expected to generate net sales of almost $200 million in 2022, after achieving double-digit sales growth in each of the past five years. The deal is expected to close in the first quarter of 2022 and to boost adjusted per-share earnings by one cent. On a GAAP basis, the deal is expected to be less accretive or dilutive, based on closing charges and amortization costs. Boston Scientific shares were down 1% premarket, but have gained 18% in the year to date, while the S&P 500 SPX, -0.81% has gained 15.7%.