WASHINGTON, June 28 Medical device maker Boston
Scientific Corp said on Friday it would buy the
electrophysiology (EP) business of C.R. Bard Inc for
$275 million in cash, expanding its roster of products that help
treat patients with an abnormal heartbeat.
Bard's EP unit produces catheters for both therapeutic and
diagnostic uses, as well as recording devices. The
electrophysiology market is estimated at $2.5 billion globally
and growing at about 10 percent annually, Boston Scientific
Bard EP, made up of about 180 employees across the globe,
generated $111 million in sales last year. It would join Boston
Scientific's EP division within its Rhythm Management unit.
Boston Scientific expects to finalize the deal later this
year, the company said, and must pay the $275 million upfront.
It expects the deal to have no impact on its adjusted earnings
per share this year, and add about 1 cent per share in 2014.
"We believe the innovation and global reach that Bard EP
delivers will meaningfully advance our position in this
fast-growing market," said Mike Mahoney, Boston Scientific's
president and chief executive officer.