Boston Scientific to buy Silk Road Medical in $1.16 billion deal (updated)

Silk Road Medical

18/06/2024 12:20

(Adds details in paragraphs 2 and 4, shares in paragraph 3)
       June 18 (Reuters) - Boston Scientific  BSX.N  will
acquire medical device maker Silk Road Medical  SILK.O  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)
 ((Sriparna.Roy@thomsonreuters.com;))