Bayer sells Interventional device unit to Boston Scientific
FRANKFURT May 15 (Reuters) - Bayer AG on Thursday said it agreed to sell its Interventional device business to Boston Scientific for $415 million in cash, a deal that is expected to close in the second half of 2014.
Boston Scientific will expand its portfolio of solutions to treat peripheral vascular disease and include systems used in cardiology, radiology and peripheral vascular procedures.
"With this sale, our Medical Care division can concentrate on innovation and growth in Radiology and Diabetes Care where we already have a strong presence," Olivier Brandicourt, CEO of Bayer HealthCare AG said in a statement.
Upon completion of the transaction, Bayer Interventional will become part of the existing Boston Scientific Peripheral Interventions business, Boston Scientific said in a statement.
Bayer's Interventional business accounted for approximately $120 million in sales in 2013. (Reporting by Edward Taylor; Editing by Arno Schuetze)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two killed, four wounded in Washington state school shooting
- Two U.S. states to quarantine health workers returning from Ebola zones |
- NYC police say hatchet attack by Islam convert was terrorism |
- 'We won't pay,' furious Cameron tells EU over surprise bill |