Boston Scientific augments its medical offerings with $4.2bn BTG deal
Medical group adds technology to fight cancer and other serious diseases to its portfolio
US medical device maker Boston Scientific has agreed to buy Britain’s BTG for £3.3bn ($4.24bn) in cash, adding technology to fight cancer and other serious diseases to its portfolio. Boston Scientific, best known for making stents to prop open clogged heart arteries, has agreed to pay 840p per share, representing a premium of 36.6% to BTG’s previous closing price, the companies said on Tuesday. Shares of BTG soared by a third to 825p by 2pm after touching 832p, their highest level since January 2015. Up to Monday’s close, they had slipped 19.3% this year, despite jumping last week on strong first-half results. Boston Scientific said BTG’s interventional medicine products, which use devices to deliver drugs to affected organs, would augment its capabilities in important areas of unmet need such as cancer and pulmonary embolism.
BTG, which has long-produced drugs to treat overdoses and rattlesnake bites, has focused on interventional medicine in recent years, for example produci...
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