BTG has three key businesses, the largest of which is its interventional medicine portfolio
Image: Boston Scientific’s corporate headquarters in Marlborough, Massachusetts. Photo: Courtesy of Boston Scientific Corporation.
Medical devices maker Boston Scientific has completed the acquisition of UK-based healthcare company BTG.
In November 2018, Boston Scientific first announced a recommended offer to acquire BTG for $4.2bn (£3.46bn).
Holders of BTG common shares will get 840 pence in cash per share, as per the terms of the previously announced transaction.
UK healthcare firm BTG
BTG is involved in the development and commercialisation of products used in minimally-invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals.
The company operates three major businesses, of which the interventional medicine portfolio is the largest segment.
The segment includes interventional oncology therapeutic technologies for patients with liver and kidney cancers, in addition to a vascular portfolio to treat deep vein thrombosis, pulmonary embolism, deep venous obstruction and superficial venous disease
BTG portfolio is also comprised of specialty pharmaceutical business, which includes acute care antidotes to treat overexposure to certain medications and toxins, as well as licencing business that secures royalties related to its intellectual property and product licence agreements.
Boston Scientific also intends to complete the previously announced sale of its global embolic microspheres portfolio, including Embozene, Embozene Tandem and Oncozene brands, to Varian Medical Systems.
In July this year, Varian Medical agreed to purchase drug-loadable microsphere and bland embolic bead product portfolio from Boston Scientific for around $90m (£71.3m).
Boston Scientific is also starting a process to explore the divestiture of the royalty stream associated with BTG’s Zytiga licencing arrangements and plans to close the deal by the end of this year.
Boston Scientific chairman and CEO Mike Mahoney said: “The addition of the BTG Interventional Medicine portfolio reinforces our category leadership strategy and enables us to offer best-in-class technologies, unparalleled clinical evidence and a strengthened commercial infrastructure to support physicians treating some of the most challenging diseases impacting patient health around the world.
“Leveraging the employee talent and clinical and commercial expertise of these two high-performing organizations will generate continued innovation and access so that we may advance patient care in ways that neither company could do alone.”