Boston Scientific to acquire C R Bard’s electrophysiology unit for $275 mn
29 Jun 2013
US-based medical device maker Boston Scientific Corp yesterday said that it would acquire the electrophysiology (EP) business of C.R. Bard Inc for $275 million in cash, in order to boost its capabilities in the fast-growing market for advanced electrophysiology procedure.
Based in Massachusetts, with nearly 180 employees, Bard EP has a comprehensive portfolio including advanced therapeutic catheters, diagnostic catheters, electrophysiology recording systems and intracardiac access devices.
Bard EP, which generated sales of $111 million in 2012, will become part of the existing Boston Scientific EP business within its 'rhythm management' unit.
Boston Scientific said that the acquisition supports its plan to provide a robust portfolio of solutions for cardiac catheter ablations and other EP tools to diagnose and treat a variety of conditions in which the heart beats abnormally, and added that electrophysiology is a $2.5 billion global market that is growing at nearly 10 per cent annually.
"We expect this acquisition to accelerate the expansion of our global electrophysiology business and we are pleased to welcome Bard EP to the Boston Scientific team," said Mike Mahoney, president and chief executive officer, Boston Scientific.
"We believe the innovation and global reach that Bard EP delivers will meaningfully advance our position in this fast-growing market, enabling us to more effectively serve the needs of patients who suffer from cardiac arrhythmias."
Natick, Massachusetts-based Boston Scientific, the world's second-largest cardiac-device maker, has made 15 acquisitions in the last 5 years.
Its latest purchase was made in September 2012, when it agreed to acquire privately-held heart device maker BridgePoint Medical Inc for an undisclosed sum, in order to strengthen its coronary artery disease treatment portfolio.
