Boston Scientific and Silk Road Medical to Finalize $1.26 Billion Merger

Boston Scientific and Silk Road Medical are set to finalize their $1.26 billion merger in the “coming days,” following the expiration of the antitrust waiting period. Silk Road Medical, known for its stroke prevention devices, confirmed the update in a federal securities filing, stating that the Federal Trade Commission (FTC) had completed its review.

The merger, initially announced in June, values Silk Road at $27.50 per share. Silk Road’s transcarotid artery revascularization devices, used to treat plaque buildup in carotid arteries, will complement Boston Scientific’s vascular product portfolio. The combined entity is expected to bring in a revenue range of $194 to $198 million in 2024.

Boston Scientific had resubmitted its merger filing in August, triggering a new waiting period under the Hart-Scott-Rodino Antitrust Improvements Act to allow for FTC review. With the expiration of this period, the companies are now moving toward completing the deal.

This acquisition follows Boston Scientific’s active mergers and acquisitions strategy, with several billion-dollar deals announced this year. The company’s proposed $3.7 billion acquisition of Axonics, however, remains under FTC scrutiny due to concerns about market dominance in urinary incontinence devices. Boston Scientific is cooperating with the FTC to address regulatory concerns and has delayed the Axonics deal closure to the second half of 2024.

Source: Med Tech Dive