November 4, 2013 | By Anabela Farrica
In a continuous effort to boost its revenue growth, Boston Scientific has just closed a $275M deal to acquire CR Bard’s electrophysiology division, thus concluding the 5-year long negotiations.
This acquisition is believed to help Boston Scientific expand its position in the electrophysiology business, especially in Europe and several parts of Asia, where Bard had previously invested in both people and technological skills. Product lines acquired include diagnostic catheters, cardiac catheter ablation technology, cardiac mapping devices, therapeutic catheters and cardiovascular recording equipment.
Boston Scientific said the deal gives the company a market worth $2.5 billion and growing 10% each year. This is obviously very hopeful for the company, since its electrophysiology sales declined in the third quarter. It’s also expected that this deal will accelerate the launches of key EP technologies, such as the IntellaTip MiFi XP ablation catheter and Rhythmia mapping system.
Pete Sommerness, general manager for electrophysiology at Boston Scientific, said that this transaction is “an important part of our global strategy to grow and transform our EP business.” It will complement the company’s expertise in capital equipment sales and service, enabling it, according to Sommerness, to offer more complete solutions in electrophysiology.