Boston Scientific announced the close of its acquisition of Silk Road Medical, a medical device company that developed 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. 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.
