Boston Scientific completes acquisition of Silk Road Medical, Inc.

MARLBOROUGH, MA., September 17, 2024 /PRNewswire/ — Boston Scientific Corporation (NYSE: BSX) today announced that it has completed the acquisition of Silk Road Medical, Inc. (Nasdaq: SILK), a medical device company that pioneered a new approach to preventing stroke and treating carotid artery disease with a minimally invasive procedure called carotid artery revascularization (TCAR).

“The completion of this acquisition enables Boston Scientific to strengthen our vascular technology solutions by making our innovative TCAR platform available to more physicians and their patients through our significant commercial footprint,” said Cat Jennings, president, Vascular, Peripheral Interventions, Boston Scientific. “Integrating the TCAR platform into our portfolio means we can offer patients with carotid artery disease a treatment option that can reduce the risk of stroke and lead to improved outcomes.”

The purchase includes the purchase price 27.50 PLN per share, which reflects an enterprise value of approximately $1.18 billion.^AND The impact on Boston Scientific adjusted earnings per share is expected to be immaterial in 2024 and 2025 and to be accretive thereafter. The impact on GAAP earnings per share is expected to be less accretive or dilutive, as applicable, due to amortization and net charges related to the acquisition.

About Boston Scientific
Boston Scientific transforms lives with innovative medical technologies that improve the health of patients around the world. As a global leader in medical technology for more than 45 years, we advance science for life by delivering a broad range of high-performance solutions that address unmet patient needs and lower healthcare costs. Our portfolio of devices and therapies helps physicians diagnose and treat complex diseases and conditions across the cardiovascular, respiratory, gastrointestinal, oncology, neurological and urology systems. Learn more at www.bostonscientific.com and connect LinkedIn AND Xformerly Twitter.

Warning Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “intend” and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at that time and are not intended to be guarantees of future events or performance. These forward-looking statements include, but are not limited to, statements regarding the financial and business impact of the transaction and the anticipated benefits of the transaction, business plans and strategies, product launches and product performance and impact. If our underlying assumptions prove incorrect or if certain risks or uncertainties materialize, actual results could differ materially from the expectations and projections expressed or implied in our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) may affect our ability to implement our business strategy and could cause actual results to differ materially from those anticipated in the forward-looking statements contained in this press release. Accordingly, readers are cautioned not to place undue reliance on any of our forward-looking statements.

Risks and uncertainties that could cause such differences include, but are not limited to: economic, political, competitive, regulatory and reimbursement conditions; geopolitical events; disruptions in manufacturing, distribution and supply chain and increased costs; disruptions due to cybersecurity events; disruptions due to public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; differences in the results of ongoing and future clinical trials and market research; new product introductions and market acceptance of those products; market competition for our products; expected pricing environment; expected procedure volumes; demographic trends; closing and integration of acquisitions, including our ability to achieve the anticipated benefits of the transaction and successfully integrate the operations of Silk Road Medical; business disruptions (including disruptions in relationships with employees, customers and suppliers) following the announcement and/or closing of the transaction; intellectual property rights; litigation; financial market conditions; the execution and effects of our business strategy, including our cost savings and growth initiatives; and future business decisions by us and our competitors. New risks and uncertainties that are difficult to predict may arise from time to time. All of these factors are difficult or impossible to predict with accuracy, and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that could affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q that we have filed or will file in the future. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law. This cautionary statement applies to all forward-looking statements contained in this press release.

COMMUNICATION:
Blake Ruhani
Media relations
(763) 494-2268
[email protected]

Jon Monson
Investor Relations
(508) 683-5450
[email protected]

^AND The value of the company is approximately $1.18 billion based on approximately 46.5 million fully diluted shares (i.e. approximately $1.28 billion (for 100% equity) and estimated $104 million net cash position

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SOURCE Boston Scientific Corporation