Boston Scientific Corp. on Friday closed on its previously announced agreement to acquire Bard EP, the electrophysiology (EP) business of C.R. Bard Inc.
This, according to Boston Scientific, enables it "to provide a broader portfolio of EP tools, including solutions for cardiac catheter ablations. The addition of the legacy Bard electrophysiology global business in advanced therapeutic catheters, diagnostic catheters, electrophysiology recording systems and intracardiac access devices gives Boston Scientific additional scale and scope to serve a $2.5 billion EP market that is growing at nearly 10 percent annually."
Pete Sommerness, general manager of electrophysiology for the Natick, Mass.-based med-tech giant, said: "Completing this transaction is an important part of our global strategy to grow and transform our EP business. We believe that the complementary capabilities that this transaction brings, including expertise in capital equipment sales and service, will enable us to offer more complete solutions to help electrophysiologists diagnose and treat patients with cardiac arrhythmias."
Officials at Boston Scientific say the acquisition will extend the company's reach into strategic global markets and will help accelerate launches of key EP technologies, such as the recently approved IntellaTip MiFi XP ablation catheter and its next-generation Rhythmia Mapping System.
The $275 million cash acquisition was first reported in June.