Boston Scientific Corp. (BSX) has declared its intention to purchase the remaining 74% ownership of Bolt Medical, Inc. that it does not currently hold. This acquisition will cost approximately $443 million.
In addition, there are provisions for further payments amounting to up to $221 million, contingent upon the achievement of specific regulatory milestones.
Currently, Boston Scientific maintains a 26% interest in Bolt Medical.
The transaction is anticipated to finalize in the first half of 2025, with slight dilution expected in adjusted earnings per share for that financial year.
Bolt Medical is renowned for its pioneering intravascular lithotripsy (IVL) platform with advanced laser technology, designed to address coronary and peripheral artery disease. It's noteworthy that Boston Scientific initially conceptualized the Bolt IVL system.
Bolt Medical recently concluded its RESTORE ATK and BTK clinical trials, marking significant developments in its IVL system, and has received the FDA's green light to initiate the global FRACTURE IDE trial for coronary artery disease treatment.
In pre-market trading on the NYSE, shares are observing a 2.07% uptick, priced at $93.90.
