Bayer to divest Interventional device business for $415 million

19-May-2014 - Germany

Bayer HealthCare has entered into a definitive agreement to sell its Interventional device business to Boston Scientific. The total consideration for the transaction, including fees for transitional services, is $415 million (about EUR 300 million). The sale will include the AngioJet™ (thrombectomy) and Jetstream™ (atherectomy) systems, and the Fetch™2 Aspiration Catheter used in cardiology, radiology and peripheral vascular procedures. Closing of the transaction is subject to customary conditions, including relevant antitrust clearance, and is expected to occur in the second half of 2014. “With this sale, our Medical Care division can concentrate on innovation and growth in Radiology and diabetes Care where we already have a strong presence,” said Dr. Olivier Brandicourt, CEO of Bayer HealthCare AG.

“We are confident that the planned sale of AngioJet, Jetstream and Fetch2 is a positive step for the long-term sustainability of these products given Boston Scientific’s strong position in devices for peripheral and cardiovascular diseases,” added Alan Main, President of Bayer HealthCare’s Medical Care Division and Member of the Bayer HealthCare Executive Committee.

“The addition of Bayer Interventional will expand our commercial footprint and enhance our ability to provide physicians and healthcare systems with a complete portfolio of solutions to treat challenging vascular conditions,” said Jeff Mirviss, president, Peripheral Interventions, Boston Scientific. “This acquisition will accelerate the growth of our Peripheral Interventions business and strengthen our position as a global leader in peripheral therapies.”

Bayer’s Interventional business accounted for approximately $120 million in sales in 2013.

https://www.bionity.com/en/news/148290/bayer-to-divest-interventional-device-business-for-415-million.html