Boston Scientific (NYSE:BSX)+today announced it completed the acquisition of Apollo Endosurgery.
The acquisition was announced in November and had an enterprise value of approximately $615 million.
Apollo Endosurgery’s product portfolio includes devices used during endoluminal surgery (ELS) procedures. The ELS procedures close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss. ELS procedures are a less-invasive alternative to open and laparoscopic surgery. It also provides a quicker recovery to minimize the risks of surgical complications.
“The close of this acquisition is an exciting step forward in our ability to provide our customers and their patients with a more comprehensive suite of endoluminal surgery and endobariatric solutions,” Senior VP and President of Endoscopy Mike Jones said in a news release. “We look forward to welcoming new talent to our Endoscopy team that will help advance innovation for physicians to improve patient care.”
The transaction’s estimated impact to adjusted earnings per share is expected to be immaterial in 2023 and accretive thereafter.