Boston Science Company
BSX,
said Tuesday it has agreed to acquire Apollo Endosurgery Inc.
A PEN,
at $10 a share, or about $615 million in cash. The news sent shares of Apollo, which closed Monday at $6, up 61% in premarket trading. The company has a portfolio of devices used in laparoscopic surgery to correct gastrointestinal anomalies, manage gastrointestinal complications and aid in weight loss in obese patients, and expected to generate net sales of approximately $76 million by 2022. “Laparoscopic Surgery is a Mike Jones, senior vice president and president, Endoscopy, Boston Scientific. The deal is tentative. will close in the first half of 2023. The deal is not expected to affect Boston Scientific’s earnings per share in 2023, but will boost them thereafter. before marketing, but is up 3% this year, while the S&P 500
SPX,
fell 17%.
