The EndoChoice Holdings purchase represents an expansion of Boston Sci's successful endoscopy business.
Chris Newmarker
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| EndoChoice's Full Spectrum Endoscopy (FUSE) colonoscope (Image courtesy of EndoChoice) |
Boston Scientific on Tuesday announced the closing of its roughly $210 million purchase of EndoChoice Holdings.
Based near Atlanta, EndoChoice has had $75 million in annual revenue, with products that include endoscopic imaging systems, devices, and infection control products. It becomes part of Boston Sci's existing endoscopy business.
"We are excited to provide physicians more comprehensive solutions to help assess, diagnose and treat patients with GI conditions," Art Butcher, senior vice president and president of Boston Scientific's endoscopy business, said in a news release.
"Boston Scientific is a leader in the field of endoscopy and we are committed to providing innovative products and services to meet the changing and growing needs within the field," Butcher said.
Boston Sci officials say they expect the deal to be break even to the company's 2017 adjusted earnings per share.
Endoscopy has been a solid performer for Boston Scientific's business. The endoscopy business brought in $1.15 billion in sales during the first nine months of 2016, an 10% increase from a year before. Overall Boston Sci sales were up 13% year-over-year, to $6.20 billion, during the same period.
Boston Sci continues to "evaluate strategic options," corporate speak for seeking a potential sale, of EndoChoice's Full Spectrum Endoscopy (FUSE) colonoscope, which enables doctors to better visualize colonoscopies.
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Chris Newmarker is senior editor of Qmed. Follow him on Twitter at @newmarker.
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