Boston Scientific has announced that it has entered into a definitive agreement to acquire Bard EP, the electrophysiology business of CR Bard, for US$275 million in cash. The company expects to close the transaction in the second half of 2013, subject to customary closing conditions.
This transaction, according to a company release, supports Boston Scientific’s strategy to provide a robust portfolio of solutions for cardiac catheter ablations and other EP tools to diagnose and treat a variety of cardiac arrhythmias.
Bard EP offers a comprehensive portfolio including advanced therapeutic catheters, diagnostic catheters, electrophysiology recording systems and intracardiac access devices. Bard EP generated sales of US$111 million in 2012.
“We expect this acquisition to accelerate the expansion of our global electrophysiology business and we are pleased to welcome Bard EP to the Boston Scientific team,” said Mike Mahoney, president and chief executive officer, Boston Scientific. “We believe the innovation and global reach that Bard EP delivers will meaningfully advance our position in this fast-growing market, enabling us to more effectively serve the needs of patients who suffer from cardiac arrhythmias.”
Bard EP would become part of the existing Boston Scientific EP business within the company’s Rhythm Management unit, a press release stated.