Boston Scientific's Drive To Add To Core Strength Continues With BTG Buy
When Boston Scientific chief medical officer Ian Meredith spoke in mid-2018 of the group's appetite for core M&A, there was a sense that more strategic moves were likely before the year was out. The inference was right, and a busy year for Boston Scientific got much busier when it made a cash offer for UK interventional medicine specialist BTG PLC. The bid values the target company at £4.28 billion, and completion is expected by mid-2019.
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The sale of BTG Specialty Pharmaceuticals to two affiliates of European specialty firm SERB leaves Boston Scientific with BTG’s interventional oncology and vascular products.
The $800m sale of BTG Specialty Pharmaceuticals business to SERB leaves Boston Scientific with BTG’s successful interventional oncology and vascular products.
Device fundraising in the fourth quarter totaled $1.5bn, a 42% decrease from Q3's $2.6bn. Q4 M&A activity reached $8.6bn. Q4 diagnostics financings brought in $1.2bn (a 32% increase over Q3) and M&As totaled $1.3bn (the second-highest quarter of the year).