(RTTNews) - Boston Scientific Corp. (BSX) announced on Wednesday its agreement to acquire the remaining 74 percent stake in Bolt Medical, Inc., which it does not already own, for approximately $443 million.
The company will also make additional payments of up to $221 million if certain regulatory goals are met.
Boston Scientific already owns a 26% stake in Bolt Medical.
The deal is expected to be closed in the first half of 2025 and to be slightly dilutive to adjusted earnings per share for that year.
Bolt Medical is the developer of an intravascular lithotripsy or IVL advanced laser-based platform to treat coronary and peripheral artery disease.
Boston Scientific initially developed the concept for the Bolt IVL system.
Recently, Bolt Medical, which has developed an advanced laser-based system for treating coronary and peripheral artery disease using intravascular lithotripsy, completed its RESTORE ATK and BTK clinical trials. The company received FDA approval to begin the global FRACTURE IDE trial for treating coronary artery disease.
In pre-market activity on the NYSE, the shares are trading at $93.90, up 2.07%.
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