Boston Scientific (NYSE:BSX) announced that it intends to make a partial offer to acquire a majority stake in Acotec.
Marlborough, Massachusetts-based Boston Scientific’s offer could add up to a maximum of 65% of Acotec’s shares. Its proposed price totals HK$20 per share. That amounts to approximately $523 million for the 65% stake at current exchange rates.
Acotec, a Chinese medical technology company offers solutions for a range of interventional procedures. Its offerings include drug-coated balloons (DCBs) for treating vascular and other diseases. The company launched the first peripheral DCB in China in 2016. It also offers radiofrequency ablation technologies and thrombus aspiration catheters, along with more than 20 other products in various development stages.
