Boston Scientific (NYSE:BSX) today announced it entered a definitive agreement to acquire Apollo Endosurgery (NSDQ:APEN) for more than $600 million.
The Marlborough, Massachusetts-based company will acquire the endoluminal surgical device maker for a cash price of $10 per share to reflect an enterprise value of approximately $615 million.
Apollo Endosurgery’s product portfolio includes devices used during endoluminal surgery (ELS) procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss. ELS procedures are a less-invasive alternative to open and laparoscopic surgery for patients with diseases in the gastrointestinal tract or morbid obesity. It also provides a quicker recovery to minimize the risks of surgical complications.
“Endoluminal surgery is an emerging field and a core focus for our Endoscopy business,” Mike Jones, senior VP and president of endoscopy at Boston Scientific, said in…