On August 20, 2019, Boston Scientific announced that it has completed the acquisition of British medical device manufacturer BTG under the agreement first announced at the end of 2018 to enhance its interventional medical product portfolio.
Under the previously announced terms of the transaction, BTG becomes a wholly-owned subsidiary of Boston Scientific, and BTG will continue to develop and commercialize minimally invasive surgery and specialty drug products for cancer and vascular disease. BTG is no longer listed on the London Stock Exchange, and holders of BTG common stock will receive 840 pence in cash per share.
Boston Scientific will sell its global embolization microsphere portfolio (including the Embozene, EmbozeneTANDEM, and ONCOZENE brands) to Varian Medical Systems in due course. This is a necessary measure for the acquisition of BTG and is related to U.S. antitrust law, which Punish monopoly market behavior and protect economic competition.
Founded in 1991 and headquartered in London, England, BTG is an international medical device manufacturer and pharmaceutical company dedicated to the development of commercialized intensive care, oncology, neurological and other disease-related medical products. BTG's largest production department is mainly responsible for the production of medical equipment related to oncology and vascular diseases. The company's other specialty is the development of medicines to treat overdose and fight rattlesnake bites. But in recent years, the company has shifted its focus to the field of interventional medicine, mainly developing medical products for drug delivery.
BTG has three main businesses, the largest of which is its highly differentiated interventional medicine portfolio, including interventional tumor treatment technology for patients with liver and kidney cancer, as well as deep vein thrombosis, pulmonary embolism, deep vein occlusion and superficial vein Treatment of venous diseases.
Boston Scientific, founded in 1979 and headquartered in Natick, Massachusetts, is a leading global medical technology company. In 1997, Boston Scientific entered China, with branch offices and R & D centers in Beijing, Shanghai, and Guangzhou. Boston Scientific's headquarters in China is located in Shanghai.
As the world's leading provider of innovative medical solutions, Boston Scientific is committed to long-term investment in innovative research and development. The company has more than 13,000 products and has obtained more than 16,000 authorized patents worldwide. In 2013, Boston Scientific's R & D investment reached 861 million U.S. dollars, making it one of the largest medical device companies in the world.
"The addition of the BTG interventional medicine portfolio strengthens our corporate strategy by providing us with best-in-class technology, highly specialized clinical data, and best-in-class infrastructure to support physicians in treating some challenging diseases." Boston Scientific Chairman and CEO Mike Mahoney said, "Using the highly efficient employees and clinical and business expertise of these two companies, we will continue to innovate and create new opportunities to strengthen the cooperation between our two companies."