FRANKFURT May 15 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)