(Reuters) – Boston Scientific will acquire medical device maker Silk Road Medical in a $1.16 billion deal, the companies said on Tuesday.
Silk Road Medical’s technology helps prevent stroke in patients with carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization.
Boston will pay $27.50 for each share of Silk Road held, representing a premium of 27% to the stock’s last close.
Shares of Silk Road Medical rose nearly 23% to $26.64 in premarket trading.
Boston Scientific expects to complete the transaction in the second half of 2024.
(Reporting by Sriparna Roy in Bengaluru; Editing by Sriraj Kalluvila)
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