Boston Scientific Corporation to acquire Baylis Medical Company
Baylis Medical Technologies to increase investment in radiology and neurosurgery business in Canada
MISSISSAUGA, ON, Oct. 6, 2021 /CNW/ - Baylis Medical Company Inc. is pleased to announce it has reached an agreement to sell its cardiology business to Boston Scientific Corporation.
The acquisition, for an upfront payment of $1.75 billion USD, subject to closing adjustments, will see Baylis Medical Company and its cardiology products transition to Boston Scientific. This includes the NRG® Transseptal Platform, the VersaCross® Transseptal Platform, as well as its full suite of transseptal sheaths and dilators, and ventricular tachycardia solutions.
Baylis Medical's affiliate – Mississauga-based Baylis Medical Technologies – is not part of the transaction and will remain a separate entity. Baylis Medical Technologies will continue to expand the development and production of its medical devices focused in the areas of radiology and neurosurgery. Baylis Medical Technologies will also continue to provide contract manufacturing services to other medical device companies.
The acquisition of Baylis Medical Company by Boston Scientific is anticipated to drive growth and adoption of the cardiology technologies worldwide, and will build on a longstanding history of designing, developing and delivering high-quality medical products to patients globally.
"Baylis Medical Company is proud of its Canadian roots and commitment to investing in the Canadian biomedical sector. We are thrilled that Boston Scientific has committed to continue the Baylis Medical Company legacy and will further enhance our efforts to bring these technologies to a greater number of physicians and patients with their significant global reach," said Kris Shah, President, Baylis Medical. "As well, we look forward to increasing our investments in our Baylis Medical Technologies business and in Canada's rich medical technology industry."
The transaction is anticipated to close in the first quarter of 2022, subject to customary closing conditions. Until then, both Baylis Medical Company and Boston Scientific will operate separately and prepare for successful integration. There is no anticipated impact or disruptions to existing customers with this announcement.
Piper Sandler served as exclusive financial advisor to Baylis Medical Company, with legal advice provided by BCF Business Law and Cooley LLP.
About Baylis Medical Company
Baylis Medical Company is a leader in the development and commercialization of innovative medical devices in the field of cardiology. Headquartered in Canada, and with offices world-wide, our clinical solutions have been Improving the Lives of People Around the World for over 30 years. For more information, visit www.baylismedical.com and connect with us on Twitter, LinkedIn and Instagram.
About Baylis Medical Technologies
Baylis Medical Technologies is a leader in the development and manufacturing of innovative medical devices in the fields of radiology and neurosurgery. Headquartered in Canada, the company also provides contract manufacturing services to some of the world's leading medical device companies. For more information, visit www.baylismedtech.com.
PRM-00479 EN J-1,2,3 V-1 © Baylis Medical Company Inc., 2021. VersaCross, NRG and the Baylis Medical logo are trademarks and/or registered trademarks of Baylis Medical Company Inc. in the USA and/or other countries. Other trademarks are property of their respective owners. CAUTION: Federal Law (USA) restricts the use of these devices to or by the order of a physician. Before use, consult product labels and Instructions for Use for Indications for Use, Contraindications, Warnings, Precautions, Adverse Events and Directions
SOURCE Baylis Medical Company Inc.
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