Full Press Release Details
MARLBOROUGH, Mass. , Sept. 17, 2024 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX ) today announced the close of its acquisition of Silk Road Medical, Inc. (Nasdaq: SILK ), 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.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding financial and business impact of the transaction and anticipated benefits of the transaction, business plans and strategy, product launches and product performance and impact. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the forward-looking statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
CONTACTS: Blake Rouhani Media Relations (763) 494-2268 [email protected]
Jon Monson Investor Relations (508) 683-5450 [email protected]
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
SOURCE Boston Scientific Corporation