MARLBOROUGH,
Mass., Sept. 17, 2024 /PRNewswire/ -- Boston
Scientific Corporation (NYSE: BSX) today announced the close
of its acquisition of Silk Road Medical, Inc. (Nasdaq: SILK), a
medical device company that pioneered a new approach for stroke
prevention and the treatment of carotid artery disease through a
minimally invasive procedure called transcarotid artery
revascularization (TCAR).
"Completing this acquisition enables Boston
Scientific to strengthen our vascular technology solutions by
bringing the innovative TCAR platform to a greater number of
physicians and their patients through our significant commercial
reach," said Cat Jennings, president, Vascular, Peripheral
Interventions, Boston Scientific. "The integration of the TCAR
platform into our portfolio means we can offer a treatment option
for patients suffering from carotid artery disease that can reduce
the risk of stroke and lead to improved patient outcomes."
The acquisition includes a purchase price of
$27.50 per share, reflecting an
enterprise value of approximately $1.18
billion.i The impact to Boston Scientific
adjusted earnings per share is expected to be immaterial in 2024
and 2025, and accretive thereafter. The impact to GAAP earnings per
share is expected to be less accretive, or dilutive, as the case
may be, due to amortization expense and acquisition-related net
charges.
About Boston Scientific
Boston Scientific transforms lives through innovative medical
technologies that improve the health of patients around the world.
As a global medical technology leader for more than 45 years, we
advance science for life by providing a broad range of
high-performance solutions that address unmet patient needs and
reduce the cost of health care. Our portfolio of devices and
therapies helps physicians diagnose and treat complex
cardiovascular, respiratory, digestive, oncological, neurological
and urological diseases and conditions. Learn more at
www.bostonscientific.com and connect on LinkedIn and
X, formerly Twitter.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements may be identified
by words like "anticipate," "expect," "project," "believe," "plan,"
"estimate," "intend" and similar words. These forward-looking
statements are based on our beliefs, assumptions and estimates
using information available to us at the time and are not intended
to be guarantees of future events or performance. These
forward-looking statements include, among other things, statements
regarding financial and business impact of the transaction and
anticipated benefits of the transaction, business plans and
strategy, product launches and product performance and impact. If
our underlying assumptions turn out to be incorrect, or if certain
risks or uncertainties materialize, actual results could vary
materially from the expectations and projections expressed or
implied by our forward-looking statements. These factors, in some
cases, have affected and in the future (together with other
factors) could affect our ability to implement our business
strategy and may cause actual results to differ materially from
those contemplated by the forward-looking statements expressed in
this press release. As a result, readers are cautioned not to place
undue reliance on any of our forward-looking statements.
Risks and uncertainties that may cause such differences include,
among other things: economic, political, competitive, reimbursement
and regulatory conditions; geopolitical events; manufacturing,
distribution and supply chain disruptions and cost increases;
disruptions caused by cybersecurity events; disruptions caused by
public health emergencies or extreme weather or other climate
change-related events; labor shortages and increases in labor
costs; variations in outcomes of ongoing and future clinical trials
and market studies; new product introductions and the market
acceptance of those products; market competition for our products;
expected pricing environment; expected procedural volumes;
demographic trends; the closing and integration of acquisitions,
including our ability to achieve the anticipated benefits of the
transaction and successfully integrate Silk Road Medical's
operations; business disruptions (including disruptions in
relationships with employees, customers and suppliers) following
the announcement and/or closing of the transaction; intellectual
property rights; litigation; financial market conditions; the
execution and effect of our business strategy, including our
cost-savings and growth initiatives; and future business decisions
made by us and our competitors. New risks and uncertainties may
arise from time to time and are difficult to predict. All of these
factors are difficult or impossible to predict accurately and many
of them are beyond our control. For a further list and description
of these and other important risks and uncertainties that may
affect our future operations, see Part I, Item 1A – Risk Factors in
our most recent Annual Report on Form 10-K filed with the
Securities and Exchange Commission ("SEC"), which we may update in
Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q
we have filed or will file hereafter. We disclaim any intention or
obligation to publicly update or revise any forward-looking
statements to reflect any change in our expectations or in events,
conditions or circumstances on which those expectations may be
based, or that may affect the likelihood that actual results will
differ from those contained in the forward-looking statements,
except as required by law. This cautionary statement is applicable
to all forward-looking statements contained in this press
release.
CONTACTS:
Blake Rouhani
Media Relations
(763) 494-2268
blake.rouhani@bsci.com
Jon Monson
Investor Relations
(508) 683-5450
BSXInvestorRelations@bsci.com
i Enterprise value of approximately $1.18 billion based on approximately 46.5 million
fully diluted shares (or approximately $1.28
billion for 100% of the equity) and an estimated
$104 million net cash position
View original content to download
multimedia:https://www.prnewswire.com/news-releases/boston-scientific-closes-acquisition-of-silk-road-medical-inc-302250314.html
SOURCE Boston Scientific Corporation
