M&As this week: Boston Scientific, Terumo Corporation

27 July 2018 (Last Updated July 27th, 2018 11:38)

Boston Scientific Corporation has entered an agreement to acquire Claret Medical Inc for $270m.

Boston Scientific Corporation has entered an agreement to acquire Claret Medical Inc for $270m.

Claret will receive $220m in cash and $50m in milestone payments from Boston, as part of the agreement.

The acquisition will add Claret’s sentinel cerebral embolic protection system to Boston’s product portfolio. The system is used to protect the brain in patients who are undergoing transcatheter aortic valve replacement (TAVR).

Based in the US, Boston Scientific is a manufacturer and distributor of medical devices, while Claret Medical, also based in the US, is a developer of cerebral vascular protection systems.

The transaction will enable the acquirer company to expand its structural heart device offerings.

Terumo Corporation has signed an agreement to acquire Essen Technology (Beijing) Co Ltd for CNY879m ($129.67m).

“The transaction will enable the acquirer company to expand its structural heart device offerings.”

Essen Technology will receive the agreed consideration in upfront and milestone payments from Terumo, under the terms of the agreement.

The transaction is expected to be closed this year, subject to customary closing conditions.

Based in Japan, Terumo is a producer of medical thermometers, while Essen Technology is a China-based company engaged in the development of drug-eluting stents (DES).

The acquisition will enable the acquirer company to expand its DES sales coverage in China.

The entire purchase consideration is planned to be funded through cash on hand.