Boston Scientific Buys C.R. Bard's Electrophysiology BusinessBoston Scientific Buys C.R. Bard's Electrophysiology Business
Boston Scientific is acquiring the electrophysiology business of C.R. Bard for $275 million in cash. An analyst believes this will give Boston Scientific a better footing in a rapidly-growing segment of the medtech market.
June 28, 2013

Boston Scientific announced Friday that it is acquiring the electrophysiology business of C.R. Bard for $275 million in cash.
The company expects the transaction to close in the second half of the year.
Based in Lowell, Massachusetts, Bard EP had sales off $111 million in 2012, and has 180 employees. The division makes advanced therapeutic catheters, diagnostic catheters, electrophysiology recording systems and intracardiac access devices.
In a news release, Boston Scientific said that the global electrophysiology market is worth $2.5 billion and growing at a 10% clip annually.
"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."
In a research note issued after Boston Scientific's announcement Senior Analyst Glenn Novarro with RBC Capital Markets wrote that the acquisition gives "BSX a bigger presence in the EP market, which is one of the fastest growing markets within medtech" increasing at around 10% per year.
Novarro added:
Bard EP’s business generated sales of $111M in 2012 which were actually down in 2012 but we believe BSX will be able to better direct their attention and resources toward achieving stronger growth. Bard’s portfolio is very complimentary to BSX and there’s not very much overlap
By Arundhati Parmar, Senior Editor, MD+DI
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