Boston Scientific (NYSE: BSX) has agreed to purchase EndoChoice Holdings Inc. (NYSE:GI), a developer of products that treat stomach and intestine illnesses, for approximately $210 million. Boston Scientific expects the deal will help expand the company “into new categories in the endoscopy market.”
Atlanta, Georgia-based EndoChoice provides pathology services, manufactures endoscopic imaging devices, and makes infection control products for specialists treating gastrointestinal conditions including colon cancer. For the 12 months ended June 2016, EndoChoice generated nearly $75 million in total sales. EndoChoice will join the buyer’s endoscopy business.
Boston Scientific, based in Marlborough, Massachusetts, develops and sells devices, such as pacemakers, that are used in a range of medical practices including cardiac surgery and gynecology. The company’s endoscopy business generated $1.42 billion in operational sales in 2015. The buyer intends to “evaluate strategic options” for plans to use the target’s Fuse colonoscope technology, which gives specialists enhanced vision to see lesions during exams.
Other medical device deals include: Natus agreeing to pay $145 million in cash for the Otometrics division of GN Store Nord A/S (CPH: GN); Auris Surgical Robotics Inc.’s agreement to purchase medical robot maker Hansen Medical Inc. for $129 million; and Patricia Industries’ acquiring Laborie Medical Technologies for $540 million. Boston Scientific expects to close the deal by the end of 2016.