Boston Scientific To Buy Preventice Solutions For Up To $1.23 Bln

(RTTNews) - Boston Scientific (BSX) said Thursday that it agreed to buy Preventice Solutions Inc., a privately-held company which offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors to cardiac event monitors and mobile cardiac telemetry.

The deal consists of an upfront cash payment of $925 million, and up to an additional $300 million in a potential commercial milestone payment.

Boston Scientific has been an investor in Preventice since 2015 and currently holds an equity stake of about 22 percent, which is expected to result in a net payment of about $720 million upon closing and a milestone payment of up to about $230 million.

The company expects to close the deal by mid-2021 and expects the deal to be immaterial to adjusted earnings per share in 2021, accretive by at least one cent in 2022, and increasingly accretive thereafter.