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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