Boston Scientific Acquires Silk Road Medical for $1.16 Billion in Cash

Boston Scientific Corporation (BSX) on June 18, 2024, entered into a deal to acquire medical device maker Silk Road Medical, Inc. (SILK) for $1.16 billion.

Details of the Agreement:

As per the agreement, Silk Road Medical will be acquired by Boston Scientific for $27.50 per share in cash, representing a premium of 26.9% from the stock’s last close.

Company Profile:

Silk Road Medical, based in Sunnyvale, California, and Plymouth, Minnesota, pioneers the TransCarotid Artery Revascularization (TCAR) procedure, which combines neuroprotection and minimally invasive techniques to treat carotid artery blockages and reduce stroke risk.

Carotid artery disease, responsible for one-third of all strokes, occurs when plaque buildup narrows or blocks the carotid arteries in the neck. Treatment options for carotid artery disease include medical therapy, stent placement, or surgery, with the TCAR procedure involving a small neck incision to reverse blood flow, prevent stroke, and place a stent for long-term plaque stabilization.

Boston Scientific, a medical technology company with over 40 years of experience, develops devices and therapies to help treat complex diseases, improve patient health, and lower healthcare costs.

Boston Scientific’s past acquisitions include EndoChoice Holdings, Inc. in 2016 for $210 million and Axonics, Inc. (AXNX) in the beginning of 2024 for $3.17 billion.

Deal Details and Timeline:

Boston Scientific will add the TCAR technology to its vascular portfolio through this acquisition.

Approved by the FDA in 2015, Silk Road Medical’s TCAR system, supported by clinical studies showing reduced stroke risk, is the only commercially available device for this procedure.

Silk Road’s current EV/Sales (TTM) ratio is 4.12, above the sector median of 3.64.

The companies expect to complete the merger in the second half of 2024.

Deal Metrics:

For more in-depth information regarding this merger and acquisition, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Silk Road Medical, Inc. (SILK) by Boston Scientific Corporation (BSX)

Each Deal Metrics page for mergers or acquisitions includes:

  • A spread history chart tracing the merger from its announcement through completion or failure.
  • A timeline of events, including the HSR period expiration, regulatory approvals, shareholder votes, etc.
  • A collection of news and SEC filings related to the deal.
  • A history of deal updates.
  • And much more.
Disclaimer: The content provided in this article is for informational purposes only. We do not warrant the completeness or accuracy of the data or content provided herein. Please conduct your own due diligence before buying or selling any securities mentioned in this article.

Comments

Post a Comment

Popular posts from this blog

Darden's Bold Move: Acquiring Chuy's for a Flavorful Future

  In the latest shake-up in the restaurant industry, Darden Restaurants, Inc. has announced its acquisition of Chuy's Holdings, Inc . This merger is set to create a powerhouse in the casual dining sector, bringing together two beloved brands under one corporate roof. Here’s what you need to know about this exciting development. Chuy’s Holdings Inc. ( CHUY ):  $37.08 Market Cap:  $643.38 M Deal Size:  $605 M Back in 2014, a heated battle between Darden Restaurants  (DRI)  and the activist hedge fund Starboard Value brought to light some surprising inefficiencies within Darden’s flagship chain, Olive Garden. In an attempt to win control of Darden’s board, Starboard pointed out not only the wastefulness of unlimited breadsticks at Olive Garden but also its puzzling decision to stop salting its pasta water as “adding salt to the boiling water could jeopardize warranties on pots”. These small yet significant details became symbols of the broader issues w...
Read more

Inside the $5.1 Billion Deal: Sixth Street’s Strategic Acquisition of Enstar Group

  Enstar Group Limited (NASDAQ: ESGR) recently became the focal point of investor discussions as Sixth Street Partners announced its acquisition for approximately $5.1 billion. This acquisition has piqued interest not only due to its substantial value but also because of the involvement of notable figures such as former Treasury Secretary Steven Mnuchin and billionaire investor J. Christopher Flowers. Deal Overview In a market where mergers and acquisitions often make headlines, Sixth Street’s acquisition of Enstar Group stands out. Enstar, an insurer with a market cap of $4.97 billion, caught the eye of Sixth Street, an investment firm that already held a 4% stake in the company. The terms of the agreement are straightforward: Sixth Street will pay Enstar shareholders $338.00 in cash per ordinary share. This price represents a 2.96% discount from Enstar's last closing price of $326.91 and offers a 5.5% premium over the 30-day average price. Market Reaction Following the a...
Read more

Strategic Biopharma Merger: Pharmacosmos to Acquire G1 Therapeutics in $405M Deal

  In the ever-evolving landscape of the biopharmaceutical industry, strategic acquisitions and mergers are critical for companies looking to bolster their portfolios and expand their global reach. Last week, we witnessed a noteworthy development as G1 Therapeutics Inc. (NASDAQ: GTHX) became the latest target in a high-profile acquisition by Pharmacosmos A/S, a Denmark-based company renowned for its expertise in carbohydrate chemistry and treatments for iron deficiency and anemia. Read More Info @ https://www.insidearbitrage.com/2024/08/g1-therapeutics-attracts-a-danish-suitor-merger-arbitrage-mondays/ The Deal in Detail Pharmacosmos, through its U.S. subsidiary Pharmacosmos Therapeutics Inc., has entered into a definitive merger agreement to acquire G1 Therapeutics for a total deal size of approximately $405 million. This transaction represents a significant premium over G1's market value, offering $7.15 per share in cash, which is a substantial 68.24% premium over G1’s las...
Read more