Boston Scientific (NYSE:BSX) announced today that it closed its acquisition of Baylis Medical for $1.75 billion upfront.
On Oct. 6, 2021, Boston Scientific announced it had agreed to acquire the Canada-based company to 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 said in October that Baylis’ 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. Baylis’ platforms have uses in procedures such as AFib ablation, left atrial appendage closure (LAAC) and mitral valve interventions.
Marlborough, Massachusetts–based Boston Scientific expects the $1.75 billion acquisition to be approximately 1¢ accretive to its adjusted earnings per share in 2022. It’ll be increasingly accretive after that. On a GAAP basis, the company expects the transaction to be less accretive or dilutive, in 2022 and less dilutive or increasingly accretive after that due to amortization expense and acquisition-related net charges.
Boston Scientific said in the past that it anticipates Baylis Medical will generate net sales approaching $200 million in 2022 and noted that the company has achieved double-digit year-over-year sales growth over each of the past five years.
“The close of this acquisition allows Boston Scientific to integrate the Baylis platforms with our existing electrophysiology and structural heart offerings, further strengthening our position within the highest growth cardiology markets,” Boston Scientific EVP and President of Cardiology Joe Fitzgerald said in a news release. “We are now the only company to pair a comprehensive access portfolio with existing left-heart therapies such as left atrial appendage closure and atrial fibrillation ablation, providing physicians with a complete toolbox to treat patients with safety, efficacy and efficiency.”
