Benzinga | Oct 6, 2021 08:37AM EDT

Boston Scientific Beefs Up Electrophysiology, Structural Heart Portfolio With $1.75B Baylis Deal

* Boston Scientific Corporation (NYSE:BSX) has agreed to acquire Baylis Medical Company Inc for an upfront payment of $1.75 billion.

* The acquisition will expand Boston Scientific's electrophysiology and structural heart product portfolios to include the radiofrequency (RF) NRG and VersaCross Transseptal Platforms and family of guidewires, sheaths, and dilators used to support left heart access.

* Baylis Medical Company is expected to generate net sales approaching $200 million in 2022.

* Baylis received FDA 510(k) clearance for the NRG platform in 2008, and the technology has since been used in more than one million procedures.

* The company received FDA 510(k) clearance for the VersaCross platform in 2020. The transaction will close in Q1 of 2022.

* The deal is expected to be approximately $0.01 accretive to adjusted EPS in 2022 and increasingly accretive after that.

* On a GAAP basis, the transaction is expected to be less accretive, or dilutive as the case may be, in 2022 and less dilutive or increasingly accretive after that, due to amortization expense and acquisition-related net charges.

* Related: Boston Scientific Acquires Provider Of Thrombectomy Platform In Over $300M Deal

* Price Action: BSX stock traded 0.31% lower at $42.31 premarket on the last check Wednesday.