Boston Scientific is to acquire Bayer HealthCare's Interventional device business in a deal worth $415m.
The acquisition is expected to strengthen Boston Scientific's access to a number of segments in the peripheral space, including the atherectomy and thrombectomy categories.
The transaction will include Bayer's AngioJet and Jetstream systems, and the Fetch2 Aspiration Catheter used in cardiology, radiology and peripheral vascular procedures.
Bayer HealthCare CEO Dr Olivier Brandicourt said: "With this sale, our medical care division can concentrate on innovation and growth in radiology and diabetes care where we already have a strong presence."
The AngioJet Ultra Thrombectomy System will break apart and remove blood clots from within blood vessels, while the Jetstream Atherectomy System is one of the most versatile debulking solutions for breaking apart and removing thrombus and plaque from upper and lower extremity peripheral arteries.
The Fetch2 Aspiration Catheter is used in instances where the interventionalist is working in small vessels and prefers to use a manual thrombectomy device to resolve small, fresh thrombus in the peripheral and coronary arteries, according to Bayer.
Boston Scientific Peripheral Interventions president Jeff Mirviss said the addition of Bayer Interventional will expand Boston Scientific's commercial footprint and enhance its ability to provide physicians and healthcare systems with a complete portfolio of solutions to treat challenging vascular conditions.
"This acquisition will accelerate the growth of our peripheral interventions business and strengthen our position as a global leader in peripheral therapies," Mirviss said.
Bayer Interventional business, which accounted for approximately $120m in sales in 2013, will become part of the existing Boston Scientific Peripheral Interventions business on completion of the transaction.
The deal is subject to customary conditions, including relevant antitrust clearance, and scheduled to be completed in the second half of this year.