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Bayer Sells Devices Business to Boston Scientific

Stocks in this article: BSX

NEW YORK (The Deal) -- Medical devices maker Boston Scientific  (BSX) on Thursday, May 15, agreed to buy the interventional devices business of Bayer as the German seller continues to reshape itself and focus on pharmaceuticals.

Boston Scientific said it would pay $415 million to expand its treatment options for vascular disease.

"These technologies help physicians save both limbs and lives, and we believe this transaction will enable us to reach more effectively the greater than 27 million patients worldwide who suffer from the debilitating effects of peripheral vascular disease," said Boston Scientific President and CEO Mike Mahoney in a statement.

Bayer's interventional device unit has three main devices and is based near Minneapolis. It employs 350 and had 2013 sales of about $120 million.

The Jetstream Atherectomy System helps clear out deposits in peripheral arteries and the Fetch2 Aspiration Catheter is used to remove blood clots in small blood vessels. Meanwhile, the AngioJet Ultra also clears blood clots from veins and arteries.

It's the second transaction this month for Natick, Mass.-based Boston Scientific Corp.

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