Boston Scientific to Buy Endoscopy Company in $210M DealBy and
Boston Scientific Corp. agreed to buy EndoChoice Holdings Inc. for about $210 million to expand its endoscopy business.
The $8-a-share purchase price is almost double EndoChoice’s closing price of $4.22 as of Monday. The deal is expected to complete in the fourth quarter, Marlborough, Massachusetts-based Boston Scientific said Tuesday in a statement.
EndoChoice shares rose 89 percent to $7.97 during pre-market trading in New York.
EndoChoice, based in Alpharetta, Georgia, develops products and services used in the treatment of gastrointestinal conditions, including resection and retrieval devices, needles, graspers and infection-control kits. The company has sales of about $75 million in the 12 months ended June 30, according to the statement.