Boston Scientific Closes $210M Deal For EndoChoice
Boston Scientific said Tuesday that it completed $210 million purchase of EndoChoice, a Georgia-based medical device company specializing in products treating gastrointestinal conditions.
The Marlborough, Massachusetts-based company—which employs roughly 7,200 workers in Minnesota—announced its plan to buy out EndoChoice in late September. The two companies agreed to an $8 per share deal for the company and its extensive product portfolio, which included single-use devices (such as resection and retrieval devices, needles, graspers and infection control kits), as well as its Full Spectrum Endoscopy (FUSE) colonoscope.
The FUSE device, in particular, was an important addition to Boston Scientific’s portfolio, as it will complement the infection control and pathology lab services offered within the company’s gastroenterology division.
What makes the FUSE device unique is the wide range of view it offers doctors during a colonoscopy. By using three tiny cameras, the FUSE device is able to provide a 330-degree view—nearly double the perspective provided by competing devices, EndoChoice claims.
Boston Scientific said at the time of the deal’s announcement that it would provide more details regarding the integration of EndoChoice’s portfolio into its own. In a release, the company said it “continues to evaluate strategic options for the [FUSE] colonoscope, and anticipates providing an update on its plans for the platform by the end of the year.”
Boston Scientific expects the acquisition for EndoChoice will be neutral to its adjusted earnings per share next year, and then accretive thereafter.