MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Boston Scientific closes $210m EndoChoice buy

Boston Scientific closes $210m EndoChoice buy

By

Boston Scientific acquires EndoChoiceBoston Scientific (NYSE:BSX) said today that it closed its $210 million buyout of EndoChoice (NYSE:GI) and its line of devices for treating gastrointestinal disease.

The $8-per-share tender offer was originally slated to expire at midnight Nov. 4. Marlborough, Mass.-based Boston Scientific later moved the deadline out to Nov. 21. they  September. Alpharetta, Ga.-based EndoChoice took itself public in June 2015 with an IPO that brought in some $96 million.

“We are excited to provide physicians more comprehensive solutions to help assess, diagnose and treat patients with GI conditions,” endoscopy president Art Butcher said in prepared remarks. “Boston Scientific is a leader in the field of endoscopy and we are committed to providing innovative products and services to meet the changing and growing needs within the field.”

Boston Scientific has said that it expects the deal to be neutral to adjusted earnings per share next year and accretive after that. Alpharetta, Ga.-based EndoChoice put up sales of $75 million during the 12 months ended June 30.

The company said it will announce its strategic plans by the end of the year for EndoChoice’s Fuse full-spectrum endoscope, which features 3 small cameras designed to provide a 330° view; EndoChoice claims that’s nearly double the range of typical colonoscopy devices. Fuse won FDA 510(k) clearance in the U.S. in June 2013. EndoChoice also makes the Fuse gastroscope, which has 2 cameras designed to expand the field of view from 150° with standard gastroscopes to 245°.

In case you missed it

RSS From Medical Design & Outsourcing

  • 3D ‘lung-on-a-chip’ will test COVID-19 drugs
    Researchers in Boston have developed a novel technology to study the effects of COVID-19 on lung tissue, and to test treatments for it. The “3-D lung-on-a-chip” by Brigham & Women’s Hospital researchers models the distal lung and alveolar structures — the tiny air sacs that take in oxygen as you breathe. They are studying how… […]
  • FDA maps return to inspection normalcy
    The FDA has mapped out how it plans to catch up on pandemic-delayed facility inspections — including 2,426 medtech inspections. In a new report called Resiliency Roadmap for FDA Inspectional Oversight, the agency said it will prioritize inspections in terms of urgency and the threat posed by COVID-19 domestically and abroad. The FDA had planned… […]
  • Zimmer Biomet is looking to put sensors in more than just knee implants
    Even as Zimmer Biomet prepares to launch its Persona-IQ smart knee implant later this year, the ortho device giant is looking at additional opportunities to package sensors inside ortho implants. Startup Canary Medical (Vancouver, British Columbia), which created the Canary Health Implantable Reporting Processor (CHIRP) that is going inside the Persona-IQ, has cemented a long-term… […]
  • Protolabs meets on earnings, beats on revenue in Q1
    Protolabs (NYSE: PRLB) today met the Wall Street consensus on its Q1 earnings, surpassing analysts’ expectations when it came to revenue. The Maple Plain, Minn.–based digital manufacturer — which supports medtech and many other industries — reported profits of $3.7 million, or 13¢ per share — about a quarter of the profits that Protolabs saw… […]
  • Allied Motion releases motion control design guide for surgical robots
    Allied Motion Technologies (Amherst, N.Y.) has released a new guide to its custom motion control products for advanced medical robot applications. The guide highlights several motors, drives and control systems, and the uses of each for specific applications. Allied offers co-design and development, has ISO 13485-certified production facilities and a global supply chain . Specific… […]
  • Quasar Medical names new CEO
    Contract manufacturer Quasar Medical announced today that its board of directors has named Alex Wallstein as CEO. Ayal Amitai, CEO since July 2005, is stepping down and transitioning to executive director of the board and senior advisor to the CEO, as well as retaining his shareholdings in Quasar. Wallstein comes with many years of senior… […]
  • Wytech Industries names new president
    Specialty and precision wire manufacturer Wytech Industries (Rahway, N.J.) today announced it has named David Ohmann as president. Ohmann has nearly 25 years of experience in international, orthopedic and advanced surgical medical device segments. Prior to joining Wytech, Ohmann held sales and marketing leadership positions at Heraeus and MicroGroup (a TE Connectivity company). Ohmann has a… […]
  • Spectrum Plastics acquires Laser Light Technologies
    Spectrum Plastics Group has announced the acquisition of substantially all assets of Laser Light Technologies. An ISO 9001- and ISO 13485-certified organization based in Hermann, Mo., Laser Light Technologies provides custom laser processing systems and services using excimer, femtosecond, picosecond and YAG laser technologies. “The addition of the talented team at Laser Light Technologies brings… […]
  • Dymax announces deal with coatings company
    Dymax and nanocoatings manufacturer HZO today announced a strategic partnership. The deal will add 3,000 coatings formulations to HZO’s portfolio, facilitate joint product development, and use Dymax’s global sales channel to extend market reach. Dymax (Torrington, Conn.) manufactures rapid light-cure adhesives, conformal coatings, potting compounds and complementary dispensing and curing equipment used in medtech and… […]
  • Qosina releases 2022 catalog
    Qosina said today it has released the latest edition of its product catalog in both print and digital formats. The 2022 product catalog includes thousands of single-use medical and pharma components depicted in full-scale photos on a one-centimeter grid to help design engineers visualize their next-generation medical device, according to the Ronkonkoma, N,.Y.-based company. Qosina… […]
  • Medline completes $1.5B spending plan
    Medline Industries announced this week that it has completed a three-year, $1.5 billion capital spending campaign. The Northfield, Ill.-based company, which is reportedly up for sale, said it invested the money in new distribution centers, manufacturing capabilities and IT upgrades to improve customers’ e-commerce experience. All told, the initiative added approximately 8,500 new jobs, eight… […]