Boston Scientific said on Thursday it will buy medtech firm Penumbra in a deal valued at about US$14.5 billion to expand its portfolio of cardiovascular devices.
Medtech firms have been investing into and expanding their cardiovascular franchise, buoyed by strong demand in the segment.
Penumbra’s shares jumped over 10 per cent in premarket trading.
The acquisition would give Boston access to Penumbra’s devices used to clear blood clots during minimally invasive procedures.
Boston, which recently raised its annual profit forecast on strong demand for its heart devices, said the inclusion of Penumbra’s products will help it improve “revenue and margins over time.”
Penumbra has developed a comprehensive portfolio that includes differentiated devices to treat conditions such as pulmonary embolism, stroke, deep vein thrombosis, acute limb ischemia, heart attack and aneurysms.
The deal values Penumbra at $374 per share, a premium of about 19.3% to its last close.
The transaction is expected to be completed in 2026.
(Reporting by Mariam Sunny in Bengaluru; Editing by Shreya Biswas and Shinjini Ganguli)
