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Boston Scientific (BSX) Inks Agreement to Acquire Symetis SA
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Boston Scientific Corporation (BSX - Free Report) , a leading medical device company, recently signed a definitive agreement to acquire Switzerland-based Symetis SA for $435 million in up-front cash, in a bid to fortify its structural heart business in Europe. The latter is a privately-held structural heart company focused on less-invasive transcatheter aortic valve implantation (TAVI) devices.
The acquisition is expected to close during the second quarter of 2017, subject to customary closing conditions.
For the last one month, Boston Scientific has been going through a rough patch. The company is presently trading below the Zacks categorized Medical - Products industry. The stock has lost 2.0% which is wider than the 0.1% loss of the broader industry.
However, we expect the company’s latest move to boost its price performance in the near term and reflect in the topline performance from the second half of 2017. In this regard, we note that Boston Scientific has slated to release its first quarter 2017 report on Apr 27.
The agreement to acquire Symetis follows the company’s recent acquisition of certain manufacturing assets and biologic tissue capabilities of Neovasc, Inc. The assets will be used in manufacturing Boston Scientific’s Lotus Valve System and future heart valve technologies under structural heart portfolio.
Meanwhile, the Symetis portfolio consists of the ACURATE TA and ACURATE neo/TF valve systems for treating high-risk patients suffering from severe and symptomatic aortic valve stenosis. These devices are sold in Europe and outside of the U.S. The company is also developing the ACURATE neo/AS which is currently under clinical trial.
Boston Scientific believes that Symetis’ ACURATE group of valve products strongly complements Boston Scientific’s Lotus valve platform. Integrating these technologies will not only diversify the latter’s structural heart portfolio but also provide cardiac surgeons with multiple TAVI offerings for varying patient pathologies and anatomy.
As per a recent ReportBuyer’s report, the global structural heart market is expected to grow at a CAGR of 14.3% from 2017 to 2022 and reach an estimated $9.7 billion by 2022. The major drivers for this market growth are increasing demand for minimally invasive surgery, rising healthcare expenditure and a growing geriatric population. Boston Scientific’s latest buyout decision is part of its aim to capture the untapped potential of this market.
Zacks Rank & Key Picks
Boston Scientific currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the medical product sector are Inogen, Inc. (INGN - Free Report) , Orasure Technologies, Inc. (OSUR - Free Report) and ZELTIQ Aesthetics, Inc. . While Inogen sports a Zacks Rank #1 (Strong Buy), Orasure and ZELTIQ Aesthetics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen gained 71.3% in the last one year in comparison to the S&P 500’s gain of 14.3%. The company has a stellar four-quarter positive average earnings surprise of over 49.08%.
Orasure surged 76.8% in the last one year in comparison to the S&P 500. It has a four-quarter positive average earnings surprise of 123.5%.
ZELTIQ Aesthetics gained over 100% in the past year, better than the S&P 500 mark. It also has a trailing positive average earnings surprise of 12.03%.
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Boston Scientific (BSX) Inks Agreement to Acquire Symetis SA
Boston Scientific Corporation (BSX - Free Report) , a leading medical device company, recently signed a definitive agreement to acquire Switzerland-based Symetis SA for $435 million in up-front cash, in a bid to fortify its structural heart business in Europe. The latter is a privately-held structural heart company focused on less-invasive transcatheter aortic valve implantation (TAVI) devices.
The acquisition is expected to close during the second quarter of 2017, subject to customary closing conditions.
For the last one month, Boston Scientific has been going through a rough patch. The company is presently trading below the Zacks categorized Medical - Products industry. The stock has lost 2.0% which is wider than the 0.1% loss of the broader industry.
However, we expect the company’s latest move to boost its price performance in the near term and reflect in the topline performance from the second half of 2017. In this regard, we note that Boston Scientific has slated to release its first quarter 2017 report on Apr 27.
The agreement to acquire Symetis follows the company’s recent acquisition of certain manufacturing assets and biologic tissue capabilities of Neovasc, Inc. The assets will be used in manufacturing Boston Scientific’s Lotus Valve System and future heart valve technologies under structural heart portfolio.
Boston Scientific Corporation Price
Boston Scientific Corporation Price | Boston Scientific Corporation Quote
Meanwhile, the Symetis portfolio consists of the ACURATE TA and ACURATE neo/TF valve systems for treating high-risk patients suffering from severe and symptomatic aortic valve stenosis. These devices are sold in Europe and outside of the U.S. The company is also developing the ACURATE neo/AS which is currently under clinical trial.
Boston Scientific believes that Symetis’ ACURATE group of valve products strongly complements Boston Scientific’s Lotus valve platform. Integrating these technologies will not only diversify the latter’s structural heart portfolio but also provide cardiac surgeons with multiple TAVI offerings for varying patient pathologies and anatomy.
As per a recent ReportBuyer’s report, the global structural heart market is expected to grow at a CAGR of 14.3% from 2017 to 2022 and reach an estimated $9.7 billion by 2022. The major drivers for this market growth are increasing demand for minimally invasive surgery, rising healthcare expenditure and a growing geriatric population. Boston Scientific’s latest buyout decision is part of its aim to capture the untapped potential of this market.
Zacks Rank & Key Picks
Boston Scientific currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the medical product sector are Inogen, Inc. (INGN - Free Report) , Orasure Technologies, Inc. (OSUR - Free Report) and ZELTIQ Aesthetics, Inc. . While Inogen sports a Zacks Rank #1 (Strong Buy), Orasure and ZELTIQ Aesthetics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen gained 71.3% in the last one year in comparison to the S&P 500’s gain of 14.3%. The company has a stellar four-quarter positive average earnings surprise of over 49.08%.
Orasure surged 76.8% in the last one year in comparison to the S&P 500. It has a four-quarter positive average earnings surprise of 123.5%.
ZELTIQ Aesthetics gained over 100% in the past year, better than the S&P 500 mark. It also has a trailing positive average earnings surprise of 12.03%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>