- Boston Scientific ( NYSE: BSX ) to make a partial offer to acquire a majority stake, up to a maximum of 65%, of shares of Acotec Scientific, a Chinese medical technology company that offers solutions designed for a variety of interventional procedures.
- The Acotec portfolio also includes radiofrequency ablation technologies and thrombus aspiration catheters, as well as more than 20 other products in various stages of development across a range of specialties.
- The proposed price is HK$20/share, which represents a total upfront cash payment consideration of ~$523M for the 65% stake at current exchange rates.
- Boston Scientific expects the impact to adjusted earnings per share to be immaterial in 2023 and the impact to GAAP earnings per share to be less accretive.
- The completion of the transaction, which is anticipated in the first half of 2023
For further details see:
Boston Scientific to acquire majority stake of Acotec Scientific