Summary
Boston Scientific Corporation (BSX) announced on February 14, 2022, the completion of its acquisition of Baylis Medical Company, Inc. This strategic move involved an upfront payment of $1.75 billion for Baylis Medical's transseptal radiofrequency (RF) platforms, specifically the NRG® and VersaCross® systems, along with associated guidewires, sheaths, and dilators critical for left heart access. The company anticipates this acquisition to be accretive to adjusted earnings per share (EPS) by approximately one cent in 2022, with increasing accretion in subsequent years. While the adjusted EPS outlook is positive, investors should note that on a GAAP basis, the transaction is expected to be dilutive in 2022 due to amortization expenses and acquisition-related net charges. This dilutive effect is anticipated to lessen or turn accretive in the future. The filing also includes standard cautionary statements regarding forward-looking statements and a clarification on the use of non-GAAP financial measures.
Key Highlights
- 1Completion of Baylis Medical acquisition for $1.75 billion upfront payment.
- 2Acquisition includes NRG® and VersaCross® transseptal RF platforms and related left heart access tools.
- 3Expected to be approximately $0.01 accretive to adjusted EPS in 2022.
- 4Anticipates increasing accretion to adjusted EPS in years following 2022.
- 5Expected to be dilutive on a GAAP basis in 2022 due to amortization and acquisition costs.
- 6Press release announcing the acquisition completion is filed as an exhibit.
- 7Standard cautionary statements regarding forward-looking information and non-GAAP measures are included.