Boston Scientific to Buy Apollo Endosurgery
29 Noviembre 2022 - 6:48AM
Noticias Dow Jones
By Colin Kellaher
Boston Scientific Corp. on Tuesday said it agreed to buy smaller
medical-technology company Apollo Endosurgery Inc. for an
enterprise value of about $615 million in a deal that bolsters its
endoluminal surgery portfolio.
Boston Scientific, based in Marlborough, Mass., said it would
pay $10 a share in cash for Apollo, a roughly 67% premium to
Monday's closing price of $6 for the Austin, Texas, company.
Boston Scientific said endoluminal surgery is an emerging field
and a core focus for its endoscopy business, adding that the Apollo
deal offers a new adjacency in the endobariatric market.
Apollo's portfolio includes devices used during
endoluminal-surgery procedures to close gastrointestinal defects,
manage gastrointestinal complications and aid in weight loss for
patients suffering from obesity.
The deal's $615 million enterprise value is based on a total
fully diluted share count of about 64.8 million Apollo shares,
minus the company's roughly $33 million of net cash.
Boston Scientific said it expects to complete the acquisition in
the first half of 2023.
Apollo shares surged nearly 63% to $9.76 in premarket trading
Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 29, 2022 07:33 ET (12:33 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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