Boston Scientific to acquire majority stake in M.I. Tech

Boston Scientific (NYSE:BSX) announced today that it agreed with Synergy Innovation to purchase its majority stake in M.I. Tech.

Marlborough, Massachusetts-based Boston Scientific will acquire a stake totaling approximately 64% in the publicly traded, Korea-based manufacturer and distributor of medical devices for endoscopic and urologic procedures.

According to a news release, M.I. Tech created the Hanarostent family of conformable, non-vascular, self-expanding metal stents, which Boston Scientific has distributed in Japan since 2015. Hanarostent technology features a hook-cross nitinol design for providing a natural and flexible fit within a patient’s anatomy, along with flared ends to help prevent stent migration.

The purchase price for the agreement includes approximately KRW 14,500 per share, which represents a total of KRW 291.2 billion or approximately $230 million at current exchange rates, subject to closing adjustments.

Boston Scie…

Read more
  • 0