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Boston Scientific Entered into an Agreement to Acquire Apollo Endosurgery, Inc.
By Rahul Gotadki , 06 December, 2022
Boston Scientific revealed to enter into a definitive agreement to acquire Apollo Endosurgery, Inc. by paying USD 10 per share in cash, signifying the company's valuation to be around USD 615 million. The recent De Novo clearance from FDA for treating bariatric and other procedures and extensive product pipeline for the endoscopy segment pursued Boston Scientific to add Apollo Endosurgery's commodity to their product portfolio. The company's acquisition is aimed at strengthening the endoscopy bariatric business of Boston Scientific.
The emerging demand for endoluminal surgery (ELS) and the high success rate of the endoscopy procedure created intent for the acquisition of Apollo Endosurgery. Also, Boston Scientific planned to expand its expertise in the ELS domain using Apollo Endosurgery's unique, innovative measures. Moreover, the acquisition enabled the organization to expand its expertise in a new adjacent market (endobariatric industry) and is anticipated to deliver robust and prolonged market growth in the projected period.
The growth in Apollo Endosurgery's endoscopic suturing system franchise comprises the X-Tack Endoscopic HeliX Tracking System, OverStitch Sx Endoscopic Suturing System, and OverStitch Endoscopic Suturing System. They are likely to record net sales of nearly USD 76 million by the end of the year (2022). Therefore, these aspects strengthen the business outlook and create a favorable trade environment for Boston Scientific.
A major factor expected to benefit Boston Scientific is the De Novo clearance of Apollo Endosurgery's Apollo ESG and Apollo Revise series systems. These FDA-authorized devices will be used to conduct endoscopic bariatric revision and endoscopic sleeve gastroplasty procedures. The approval of the systems is likely to support the organization's sales and help the company hold a significant share of the bariatric surgery market. Moreover, Boston Scientific anticipates settling the payment in the first two quarters of 2023 while looking at future economic and demographic trends and regulatory conditions.Average Weight Loss-Gastric Sleeve, RNY Gastric Bypass, Lap Band to Sleeve
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