A Chance To Own The Venous Space: BTG Acquires Novate
Complications with inferior vena cava (IVC) filters and subsequent patient-injury lawsuits have made this a tricky space for medical technology innovators, but BTG has not been deterred. The UK company has entered the fray with a technology developed by Novate Medical, and as a bioconvertible product BTG believes it has key advantages compared with other offerings.
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When Boston Scientific chief medical officer Ian Meredith spoke in mid-2018 of the group's appetite for core M&A, there was a sense that more strategic moves were likely before the year was out. The inference was right, and a busy year for Boston Scientific got much busier when it made a cash offer for UK interventional medicine specialist BTG PLC. The bid values the target company at $4.28 billion, and completion is expected by mid-2019.
A busy year of M&A for Boston Scientific just got busier with a $4.2bn cash offer for UK interventional medicine specialist BTG. Completion is expected by mid-year 2019.
The diversified UK firm is betting $20m upfront and up to $150m total on a novel inferior vena cava filter technology.