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Boston Sci on the Other Side of M&A in Its Deal with Varian
The Marlborough, MA-based company is selling its microsphere and bland embolic bead products to satisfy anti-trust laws in connection with its $4 billion acquisition of BTG.
July 2, 2019
2 Min Read
Varian Medical Systems is set to acquire Boston Scientific’s portfolio of drug-loadable microsphere and bland embolic bead products for $90 million. The deal is set to close in August.
This is a stark departure Marlborough, MA-based Boston Scientific, who went on an acquisitions spree for most of 2018. However, the divestiture of these products is necessary, so it can satisfy anti-trust laws connected to its $4 billion acquisition of BTG.
Varian's planned acquisition of the portfolio of drug-loadable microsphere (Oncozene/Embozene Tandem) and bland embolic (Embozene) bead products will enable it to extend its new interventional oncology platform. Varian said it will also benefit from the products' regulatory clearances in more than 35 countries worldwide.
"This acquisition from Boston Scientific will strengthen Varian's growing position in the high-value interventional oncology segment and is consistent with our long-term strategy to become a global leader in multidisciplinary, integrated cancer solutions," Dow Wilson, president and CEO of Varian. "We look forward to completing this acquisition and are excited to add these drug-loadable microsphere and bland embolic bead products to our portfolio to provide our clinical partners with expanded advanced treatment options."
Palo Alto, CA-based Varian has also been fairly active on the M&A trail. Last month the company said it acquired both Endocare and Alicon for about $185 million.
In May, Varian announced it was picking up CyberHeart, a firm with intellectual property (IP) that covers the use of radiation in the heart (cardiac radioablation) and other forms of radiosurgery for cardiovascular disease.
Varian was making a play to acquire interventional oncology specialist Sirtex Medical for $1.3 billion around January of 2018. But New South Wales, Australia-based Sirtex said its board decided the competing bid of $1.4 billion from CDH Investments was superior to the earlier bid it received from Varian.
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