Entering text into the input field will update the search result below

Neovasc up 95% premarket on Boston Scientific investment

  • Boston Scientific (NYSE:BSX) inks a deal with Neovasc (NVCN) to acquire certain manufacturing assets and capabilities in its advanced biological tissue business in addition to a 15% equity stake for $75M in cash. The acquired business makes elements used in transcatheter heart valves, including BSX's Lotus Valve System. It will be folded into Boston's structural heart unit when the deal closes later this month.
  • EVP, Operations Ed Mackey says, "We continually seek ways to optimize our manufacturing processes and enhance our product portfolio. The vertically integrated operational capabilities resulting from this acquisition will strengthen our structural heart pipeline and immediately benefit our Lotus valve platform as we work to increase our market share in Europe and prepare for launch in the U.S., expected in late 2017."
  • The transaction will be immaterial to BSX's per-share earnings in 2016 and 2017 on both a GAAP and non-GAAP basis.
  • NVCN is up 95% premarket on robust volume.

Recommended For You

About BSX Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
BSX--
Boston Scientific Corporation