Boston Scientific has announced the close of its acquisition of Silk Road Medical—a medical device company that has pioneered a new approach for stroke prevention and the treatment of carotid artery disease through the minimally invasive transcarotid artery revascularisation (TCAR) procedure.
Boston Scientific initially announced that it had entered into an agreement to acquire Silk Road back in June.
“Completing this acquisition enables Boston Scientific to strengthen our vascular technology solutions by bringing the innovative TCAR platform to a greater number of physicians and their patients through our significant commercial reach,” said Cat Jennings, president of vascular and peripheral interventions at Boston Scientific. “The integration of the TCAR platform into our portfolio means we can offer a treatment option for patients suffering from carotid artery disease that can reduce the risk of stroke and lead to improved patient outcomes.”
As detailed in a recent press release, the acquisition includes a purchase price of US$27.50 per share, reflecting an enterprise value of approximately US$1.18 billion. The impact to Boston Scientific adjusted earnings per share is expected to be immaterial in 2024 and 2025, and accretive thereafter. The impact to generally accepted accounting principles (GAAP) earnings per share is expected to be less accretive—or dilutive, as the case may be—due to amortisation expense and acquisition-related net charges.
