Boston Scientific snags Bayer’s peripheral unit for $415M

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 - Business Money

Boston Scientific will buy the interventional device division at Bayer AG for $415 million. The acquisition will let Boston Scientific widen its portfolio of technologies used to treat coronary and peripheral vascular disease.

The sale will give Boston Scientific rights to AngioJet, a thrombectomy device, JetStream, an atherectomy technology, and Fetch 2, an aspiration catheter. Bayer Interventional reported $120 million in sales in the atherectomy and thrombectomy markets in 2013.

Berlin-based Bayer HealthCare CEO Olivier Brandicourt, MD, said in a release that the transaction would allow Bayer to concentrate on its radiology and diabetes divisions. Alan Main, president of Bayer HealthCare's Medical Care Division, called the addition of AngioJet, Jetstream and Fetch2 “a positive step for the long-term sustainability of these products.”

Boston Scientific is based in Natick, Mass. Bayer Interventional, which employs 350 people, is in Coon Rapids, Minn. The sale is expected to be completed in the second half of 2014.