Boston Scientific closes acquisition of Apollo Endosurgery
Boston Scientific has closed its acquisition of Apollo Endosurgery, a publicly traded medical technology company primarily focused on the design, development and commercialisation of medical devices to advance gastrointestinal therapeutic endoscopy and endobariatrics.
Mike Jones, senior vice president and president, Endoscopy, Boston Scientific, said: “The close of this acquisition is an exciting step forward in our ability to provide our customers and their patients with a more comprehensive suite of endoluminal surgery (ELS) and endobariatric solutions. We look forward to welcoming new talent to our Endoscopy team that will help advance innovation for physicians to improve patient care.”
The addition of Apollo Endosurgery devices will expand upon the current Boston Scientific ELS portfolio and capabilities, particularly in the areas of closure and suturing, while enabling a measured entry into the endobariatric market.
Boston Scientific announced a definitive agreement to acquire Apollo Endosurgery on 29th November 2022 for a cash price of $10 per share, reflecting an enterprise value of approximately $615 million, subject to closing adjustments. The transaction’s estimated impact to adjusted earnings per share is expected to be immaterial in 2023, and accretive thereafter.