Boston Scientific said Oct. 6 it has entered into a definitive agreement to acquire Baylis Medical Co. for $1.75 billion, the third and largest deal the Marlborough, Mass.-based company has announced in the last month.
The acquisition of the Ontario-based company will expand Boston Scientific's cardiology business and is expected to generate $200 million in net sales for Boston Scientific by 2023.
"A leader in many of the fastest growing markets in our industry, we believe that Baylis Medical Company will add meaningful revenue, operating income and new research and development capabilities across multiple Boston Scientific businesses, while complementing existing offerings within our electrophysiology and structural heart portfolios," Mike Mahoney, chairman and CEO of Boston Scientific said in a news release.
The deal is expected to close in the first quarter of 2022 and is the latest in a string of acquisitions announced by Boston Scientific.
The company said Sept. 21 that it plans to acquire Devoro Medical, a Fremont, Calif.-based medical devicemaker, for up to $336 million.
On Sept. 7, Boston Scientific said it had acquired the surgical business of Israeli company Lumenis in a $1.07 billion deal.
Also this year, the company paid up to $387 million for its remaining stake in Menlo Park, Calif.-based medical devicemaker Farapulse and up to $1.2 billion for the rest of Preventice Solutions, based in Minnesota, The Boston Globe reported.
Read the news release here.