Boston Scientific Closes Acquisition Of Silk Road Medical

(RTTNews) - Medical technology company Boston Scientific Corp. (BSX) announced Tuesday the close of its acquisition of medical device company Silk Road Medical, Inc. (SILK) for $27.50 per share in a deal valued at about $1.18 billion.

Silk Road Medical specializes in a new approach for stroke prevention and the treatment of carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization (TCAR).

The company said the acquisition enables it to strengthen its vascular technology solutions by bringing the innovative TCAR platform to a greater number of physicians and their patients through their significant commercial reach.

The TCAR platform will offer a treatment option for patients suffering from carotid artery disease that can reduce the risk of stroke and lead to improved patient outcomes.

The acquisition is expected to have an immaterial impact to Boston Scientific's adjusted earnings per share in 2024 and 2025, and accretive thereafter. The impact to earnings per share is expected to be less accretive, or dilutive, as the case may be, due to amortization expense and acquisition-related net charges.