Boston Scientific to acquire Silk Road Medical for $27.50 per share

Boston Scientific (BSX) announced it has entered into a definitive agreement to acquire Silk Road Medical (SILK), a medical device company that has developed an innovative platform of products to prevent stroke in patients with carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization. The purchase price is $27.50 per share, reflecting an enterprise value of approximately $1.16B. Boston Scientific expects to complete the transaction in the second half of 2024, subject to customary closing conditions. Silk Road Medical has guided to net revenue of approximately $194M-198M in 2024, representing 10%-12% growth over the prior fiscal year.iii The impact to Boston Scientific adjusted earnings per share is expected to be immaterial in 2024 and 2025, and accretive thereafter. “We expect the impact to GAAP earnings per share to be less accretive, or dilutive, as the case may be, due to amortization expense and acquisition-related net charges.”