Boston Scientific Corporation (NYSE: BSX; “BSX“), a $10b producer of interventional technologies for general surgery, neurosurgery, and cardiovascular health has announced the acquisition of Devoro Medical, a developer of a blood clot retrieval and removal system for arterial and venous systems. BSX has been a minority investor in Devoro Medical since 2019. BSX, in this 2021 transaction, purchased the remaining 84% for $269m. Devoro's WOLF platform enables thrombectomy procedures without damaging blood vessels. The addition complements BSX’s suite of interventions for thromboembolism, which includes the EkoSonic Endovascular System (EKOS) and the AngioJet Thrombectomy System. Deal terms $320m (inclusive of prior $16m equity stake from 2019) upfront plus $80m.
Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Medical Devices