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BUZZ-Boston Scientific rises on deal to acquire Bolt Medical

ReutersJan 8, 2025 1:26 PM

** Shares of medical device maker Boston Scientific BSX.N rise 2.1% to $93.9 premarket

** BSX says it has agreed to buy ~74% stake not yet owned in medtech firm Bolt Medical

** Transaction consists of an upfront payment of about $443 mln for the stake and up to $221 mln upon achievement of certain regulatory milestones

** Deal, expected to be completed in the first half of 2025, will expand BSX's portfolio of cardiovascular devices

** Bolt Medical develops an advanced laser-based platform for the treatment of coronary and peripheral artery disease, which leads to buildup of plaque in the arteries

** Up to last close, BSX shares up ~58% over the past 12 months

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com))

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