Boston Scientific Completes Acquisition of BTG to Strengthen Interventional Medicine Portfolio

On August 20, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Boston Scientific announced the completion of its acquisition of UK-based medical device manufacturer BTG, in accordance with the agreement initially disclosed at the end of 2018, to strengthen its interventional medical product portfolio.

Under the terms of the previously announced transaction, BTG has become a wholly-owned subsidiary of Boston Scientific Corporation. BTG will continue to develop and commercialize minimally invasive surgical devices and specialty pharmaceutical products for the treatment of cancer and vascular diseases. BTG is no longer listed on the London Stock Exchange, and holders of BTG ordinary shares will receive 840 pence in cash per share.

Boston Scientific Corporation will, at the appropriate time, sell its global portfolio of embolization microspheres (including the Embozene®, Embozene TANDEM®, and ONCOZENE™ brands) to Varian Medical Systems. This divestiture is a necessary condition for the acquisition of BTG, in compliance with U.S. antitrust laws designed to penalize monopolistic market practices and protect economic competition.

BTG, established in 1991 and headquartered in London, UK, is an international medical device manufacturer and pharmaceutical company dedicated to developing commercialized medical products for critical care, oncology, neurology, and other diseases. BTG’s largest manufacturing division is primarily responsible for producing medical devices related to oncology and vascular diseases. Another area of expertise for the company is developing treatments for drug overdoses and antivenoms for rattlesnake bites. In recent years, however, the company has shifted its focus to the interventional medicine sector, mainly developing medical products for drug delivery.

BTG has three main business segments, the largest of which is its highly differentiated interventional medicine portfolio. This includes interventional oncology therapies for patients with liver and kidney cancer, as well as treatment technologies for deep vein thrombosis, pulmonary embolism, deep vein obstruction, and superficial venous disease.

Boston Scientific Corporation, founded in 1979 and headquartered in Natick, Massachusetts, USA, is a global leader in medical technology. In 1997, Boston Scientific entered the Chinese market, establishing branch offices and R&D centers in Beijing, Shanghai, and Guangzhou. Its China headquarters is located in Shanghai.

As a global leader in innovative medical solutions, Boston Scientific Corporation is committed to long-term investment in innovation and R&D. The company offers more than 13,000 products and holds over 16,000 granted patents worldwide. In 2013, Boston Scientific’s R&D expenditure reached $861 million, making it one of the medical device companies with the highest R&D spending globally.

“The addition of BTG’s interventional medicine portfolio strengthens our corporate strategy, providing us with best-in-class technologies, highly specialized clinical data, and world-class infrastructure to support physicians in treating some of the most challenging diseases,” said Mike Mahoney, Chairman and Chief Executive Officer of Boston Scientific. “By leveraging the high-performing employees and clinical and commercial expertise of both companies, we will continue to innovate and create new opportunities to enhance the collaboration between our two organizations.”

(Compiled by Cheng Tao)