As per terms of the deal, a tender offer will be launched for all EndoChoice outstanding shares at a cash price of $8.00 per share.
Based in Atlanta of Georgia, EndoChoice is engaged in the development and commercialization of products and services for specialists to treat a wide range of gastrointestinal (GI) conditions.
The company develops and produces platform technologies, including endoscopic imaging systems, devices and infection control products, as well as pathology services to treat different GI conditions.
EndoChoice's product portfolio is comprised of single-use devices such as resection and retrieval devices, needles, graspers and infection control kits. It also provides imaging technologies for its customers.
The company, which has around 2,500 customers in the US, works with distribution partners in about 30 countries.
Subject to customary closing conditions, the deal is expected to complete in the fourth quarter of this year.
Boston Scientific endoscopy president and senior vice president Art Butcher said: "The addition of EndoChoice products and services to our portfolio supports our strategy to provide comprehensive solutions to gastroenterology caregivers and the patients they serve.
EndoChoice founder and CEO Mark Gilreath said: "The combination of our broad portfolio of products and services for the gastroenterology physician, with the complementary products and large global infrastructure of the Boston Scientific endoscopy business, creates an enhanced growth platform for both businesses, and delivers immediate value for our shareholders."
In July, Boston Scientific also acquired radiofrequency ablation (RFA) systems manufacturer Cosman Medical.
The acquired business produces a range of radiofrequency generators, electrodes and cannulae for neurosurgery and pain management in interventional anesthesiology and podiatry.
Image: Boston Scientific's corporate headquarters in Marlborough, Massachusetts. Photo: courtesy of Boston Scientific Corporation.
