Boston Scientific to Buy 64% of M.I. Tech for About $230 Million
June 15 2022 - 7:50AM
Dow Jones News
By Colin Kellaher
Boston Scientific Corp. on Wednesday agreed to buy the roughly
64% stake in Korean medical-device maker M.I. Tech Co. Ltd. held by
Synergy Innovation Co. Ltd. for about $230 million, Boston
Scientific said.
The Marlborough, Mass., medical-devices maker would pay 14,500
South Korean won a share, 31% above Wednesday's closing price of
KRW11,050, for the stake in M.I. Tech, which makes and distributes
medical devices for endoscopic and urologic procedures, Boston
Scientific said.
M.I. Tech is the creator of the HanaroStent family of
non-vascular, self-expanding metal stents, which Boston Scientific
has distributed in Japan since 2015.
Boston Scientific expects to complete the acquisition in the
second half of the year, it said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 15, 2022 07:35 ET (11:35 GMT)
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