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(Sharecast News) - Boston Scientific said on Thursday that it has agreed to buy thrombectomy company Penumbra in a $14.5bn deal.
Penumbra is focused on developing technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia.
Under the terms of the deal, Penumbra shareholders will receive $374 in cash or 3.8721 shares of Boston Scientific common stock.
Boston Scientific chairman and chief executive Mike Mahoney said: "Penumbra is a well-established company with an experienced, high-performing team and this acquisition offers Boston Scientific an opportunity to enter new, fast-growing segments within the vascular space.
"I'm thrilled to combine the talents and shared values of our teams - including welcoming Penumbra's chairman and chief executive officer, Adam Elsesser, to our board of directors upon close. The addition of Penumbra can expand access for these novel technologies to more patients and customers around the world, further enhancing our revenue and margins over time with proven offerings that have a history of growth and innovation."
Penumbra expects to deliver fourth-quarter reported revenue growth of about 21.4% to 22% and full- year 2025 reported revenue of approximately $1.4bn, up between 17.3% and 17.5% over the prior fiscal year.
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