Summary
Boston Scientific Corporation (BSX) announced the completion of its acquisition of Devoro Medical Inc. on November 8, 2021. Devoro Medical is known for its WOLF Thrombectomy® Platform, a novel solution for removing blood clots in various vascular procedures without requiring a console or lytics. This acquisition expands Boston Scientific's peripheral interventions portfolio with a technology designed for rapid clot capture and extraction, potentially improving patient outcomes and procedural efficiency. Financially, the acquisition involved an upfront payment of approximately $269 million (after adjustments for BSX's existing stake) and potential milestone payments of up to approximately $67 million. While the transaction is expected to be slightly dilutive to adjusted EPS in 2021, with plans to offset this through internal efficiencies, BSX anticipates no impact on adjusted EPS in 2022. On a GAAP basis, the dilutive impact in 2022 will stem from amortization and acquisition-related charges, partially offset by a one-time gain recognized on Boston Scientific's previously held equity interest in Devoro Medical.
Key Highlights
- 1Boston Scientific has acquired Devoro Medical Inc., a company specializing in thrombectomy technology for clot removal.
- 2The acquisition includes the WOLF Thrombectomy® Platform, which is console- and lytic-free, designed for arterial, venous, and pulmonary embolism procedures.
- 3The upfront cash consideration for the acquisition was approximately $269 million, with potential additional milestone payments of up to approximately $67 million.
- 4Boston Scientific held a significant equity stake (approx. 16%) in Devoro Medical prior to the acquisition.
- 5The transaction is expected to be slightly dilutive to adjusted EPS in 2021, with the company planning to mitigate this through cost efficiencies.
- 6For 2022, the acquisition is not expected to impact adjusted EPS but will be slightly dilutive on a GAAP basis due to amortization and acquisition-related expenses.