BTG (LON:BTG) said today it will pay up to $80 million to acquire specialized cardiovascular catheter developer Roxwood Medical.
In the deal, U.K.-based BTG will pay $65 million upon closure of the deal and an additional $15 million upon the completion of certain future commercial milestones. BTG said it expects the deal to be accretive to adjusted EPS from the 2nd year of ownership forward.
“This bolt-on acquisition continues to build BTG’s strength in the interventional vascular space, further expanding our portfolio of differentiated minimally invasive vascular technologies. Roxwood’s products complement our existing business and will be offered through our existing EKOS hospital sales force, providing our customers with options to enable treatment of these patients with complex lesions,” BTG chief commercial officer John Sylvester said in a press release.
Redwood City, Calif.-based Roxwood produces anchoring catheters and microcatheters which feature self-expanding scaffolds and are designed to cross complex lesions and arterial blockages, BTG said.
“This is an exciting new chapter for the team at Roxwood and further testament to the utility of the anchoring and microcatheter platforms. With the expanded commercial and clinical reach of BTG, these minimally invasive tools can help far more clinicians successfully treat patients with severe arterial blockages,” Roxwood CEO Mehrdad Farhangnia said in a prepared statement.
In August, BTG said it and the Society of Interventional Oncology expanded their immuno-oncology/interventional oncology research grant program.
