Boston Scientific (BSX) to Buy Silk Road, Boost Cardiology [Yahoo! Finance]
Boston Scientific Corporation (BSX)
Last boston scientific corporation earnings: 4/29 06:30 am
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Source: Yahoo! Finance
This is a strategic move poised to significantly expand the company's cardiology portfolio. By paying $27.50 per share, Boston Scientific is offering a 38% premium over Silk Road's volume-weighted average share price over the past 60 days. With this transaction, expected to close in the second half of 2024, Silk Road will become a wholly owned subsidiary of the MedTech giant. Enhancing Market Position Silk Road Medical, known for its Transcarotid Artery Revascularisation (TCAR) devices, has completed over 85,000 TCAR procedures to date. The TCAR system is a minimally invasive procedure designed to treat carotid artery disease by temporarily reversing blood flow to prevent plaque fragments from reaching the brain. Silk Road Medical has a market capitalization of $854.7 million and a 9.4% share in the global carotid and renal artery stent market. The company reported strong earnings in 2023. Revenues increased by 28% from 2022, driven by the growing adoption of TCAR procedures.
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BSX
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- 7/24/24 - Beat
BSX
Sec Filings
- 9/6/24 - Form 4
- 9/5/24 - Form 144
- 9/3/24 - Form 4
- BSX's page on the SEC website