Boston Scientific and EndoChoice Holdings, Inc. announced the
companies have entered into a definitive agreement under which Boston
Scientific has agreed to acquire EndoChoice. Upon completion of the
transaction, EndoChoice will become part of the Boston Scientific
endoscopy business.
EndoChoice
develops and commercializes innovative products and services for
specialists treating a wide range of gastrointestinal (GI) conditions.
The EndoChoice portfolio includes single-use devices, such as resection
and retrieval devices, needles, graspers and infection control kits. The
company also has strong positions in pathology services and imaging
technologies.
Under the terms of the agreement, Boston Scientific will launch a
tender offer for all EndoChoice outstanding shares at a cash price of
$8.00 per share. Following the tender offer, if successful, all
remaining shares of EndoChoice will receive the same consideration paid
to stockholders who participated in the tender offer. The total equity
value is approximately $210 million and the transaction is expected to
close in the fourth quarter of 2016 subject to customary closing
conditions.
A press release can be found from
Boston Scientific website.
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