Boston Scientific To Acquire Majority Stake Of Acotec Scientific

(RTTNews) - Boston Scientific Corp. (BSX) said Sunday that it will make a partial offer to acquire a majority stake, up to a maximum of 65%, of shares of Acotec Scientific Holdings Limited, a Chinese medical technology company that offers solutions designed for a variety of interventional procedures. The proposed price is HK$20 per share, which represents a total upfront cash payment consideration of about US$523 million for the 65% stake at current exchange rates.

Boston Scientific expects the impact to adjusted earnings per share to be immaterial in 2023 and the impact to GAAP earnings per share to be less accretive, or dilutive, as the case may be, due to amortization expense and acquisition-related net charges.

The completion of the transaction is anticipated in the first half of 2023.