Boston Scientific agrees purchase of Bayer’s interventional division

Boston Scientific has agreed to acquire the interventional division of Bayer, a move that will greatly strengthen its peripheral interventions business.

The $415 million (246.59 million pounds) deal will help the company accelerate its growth in the key peripheral atherectomy and thrombectomy categories and is expected to close during the second half of the year.

Upon completion of the takeover, the Bayer interventional unit – which generated sales of approximately $120 million – will become part of the existing Boston Scientific peripheral interventions business.

Bayer Interventional's current product line-up includes the AngioJet Thrombectomy System, JetStream Atherectomy System and the Fetch 2 Aspiration Catheter. It employs around 350 people.

Mike Mahoney, president and chief executive officer at Boston Scientific, said: "We believe this transaction will enable us to reach more effectively the greater than 27 million patients worldwide who suffer from the debilitating effects of peripheral vascular disease."

This comes after the firm also last month acquired IoGyn, the developer of a hysteroscopic intrauterine tissue removal system.