Boston Scientific (NYSE:BSX) announced today that it agreed to acquire Baylis Medical for an upfront payment of $1.75 billion.
Marlborough, Massachusetts–based Boston Scientific said in a news release that the acquisition will expand its electrophysiology and structural heart product portfolios to include the radiofrequency (RF) NRG and VersaCross transseptal platforms, as well as a family of guidewires, sheaths and dilators used to support left heart access.
The Baylis platforms offer advanced transseptal puncture. Boston Scientific says the platforms are clinically proven to enhance safety, efficacy and efficiency when crossing the atrial septum to deliver therapies in the left side of the heart. Think AFib ablation, left atrial appendage closure (LAAC) and mitral valve interventions.
Boston Scientific expects Baylis Medical to generate net sales approaching $200 million in 2022 and said the company has achieved double-digit year-over-year sales growth over each of the past five years.
The company plans to close the transaction in the first quarter of 2022, with the expectation that the acquisition will be approximately 1¢ accretive to adjusted earnings per share in 2022 and increasingly accretive thereafter.
“The talented and innovative Baylis Medical Company team, combined with these transseptal platforms, will enhance our efforts to improve procedural efficiencies with physician tools designed to make left atrial access safer and more predictable, with a focus on patient outcomes,” Boston Scientific chairman & CEO Mike Mahoney said in the release. “A leader in many of the fastest-growing markets in our industry, we believe that Baylis Medical Company will add meaningful revenue, operating income, and new research and development capabilities across multiple Boston Scientific businesses while complementing existing offerings within our electrophysiology and structural heart portfolios.”
Bayliss received FDA 510(k) clearance for the NRG platform in 2008 and won 510(k) clearance for VersaCross in 2020.
“As a leading innovator in left heart access solutions, we develop advancements that help physicians deliver critical, high-precision therapies, which raise the standard of care for patients,” Baylis Medical president Kris Shah said. “We look forward to making these life-changing technologies available to more patients across the globe through the significant commercial reach of Boston Scientific.”
