Boston Scientific to acquire Neovasc biological tissue capabilities

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Boston Scientific's lotus
Boston Scientific’s lotus

Boston Scientific has agreed to acquire certain manufacturing assets and capabilities of the Neovasc advanced biological tissue business, as well as a 15% equity stake in Neovasc, for a total of US$75 million in cash. The Neovasc advanced biological tissue business makes elements used in transcatheter heart valves, including the Boston Scientific Lotus valve system.

Upon completion of the transaction, the Neovasc advanced biological tissue capabilities will be integrated into the Boston Scientific structural heart business for use in the manufacturing of the Lotus valve and future heart valve technologies.

According to a company release, the acquisition is expected to close by year-end 2016, subject to customary closing conditions, and to be immaterial to Boston Scientific earnings per share (EPS) in 2016 and 2017 on an adjusted and GAAP basis.