How Boston Scientific's $435 Million Deal is a Threat to Rivals Medtronic, Edwards Lifesciences
Boston Scientific said Thursday it plans to acquire Swiss firm Symetis in a $435 million deal in that will deepen its heart-valve rivalry with Medtronic and Edwards Lifesciences.
Symetis offers several transcatheter aortic valve replacement products in Europe and internationally. This would add to Boston's Lotus heart-valve device which, in late February, was recalled due to mechanical issues.
The deal is expected to close in the second quarter, be earnings accretive in 2018 and hit 10% return on interest by the third year, Boston said in a presentation.
Symetis offers several transcatheter aortic valve replacement products in Europe and internationally. This would add to Boston's Lotus heart-valve device which, in late February, was recalled due to mechanical issues.
The deal is expected to close in the second quarter, be earnings accretive in 2018 and hit 10% return on interest by the third year, Boston said in a presentation.