News

Untitled

Bloomberg Report Hints At Boston Scientific/Shockwaves Megadeal

Medical company Boston Scientific is looking to make a series of acquisitions and mergers, and appears to be showing interest in Shockwave Medical, with its set of blood vessel clearing catheters, a report from Bloomberg recently announced.
The deal may well be one of Boston Scientific’s largest ever, projected to rank up to double digit billions, according to the report. Shockwave’s stock has also increased around 45% since the start of the year, trading at around $260 per share, prior to the price spiking to roughly $290 last Friday after the news of a possible takeover was announced, which leaves it with a $10.5B market cap.
Around the middle of march, the California based company announced the US launch of their new ultrasound powered catheter, which is designed for breaking open thick blockages of calcium in blood vessels found in the arms and legs. Shockwave uses what it calls intravascular lithotripsy.

These devices produce sonic waves which break down deposits formed along the vessel walls. The company’s portfolio additionally includes catheters designed to fit the heart’s smaller coronary arteries. Additionally, Shockwave recently acquired Neovasc, which added the Reducer heart implant (which treats chest pain) to its catalogue. In 20222, Shockwave made $489.7M in revenues, which is more than twice the number it pulled in the previous year. Its operating expenses topped $300M, and grew about 50% alongside an increasing headcount.
This growth in sales has been driven by the increasing adoption of their coronary lithotripsy catheters in the US and internationally, say the company. As of this February, Shockwave’s projection for its 2023 revenues are that they will top out between $660M and $680M, which is around 35% higher than last year’s numbers. However, according to Bloomberg, these ongoing talks are in their early stages, and may not ultimately lead to a guaranteed deal.

© Boston Scientific

Post a comment

Your email address will not be published. Required fields are marked *

Recent News

Successful completion of the inaugural shoulder arthroplasty surgeries utilizing Stryker’s Blueprint® Mixed Reality Guidance System occurred at Mayo Clinic in Minnesota and St. Joseph’s Health Care in London, Canada.

Medical Device Technologies Market is projected to increase from USD 4.20 Billion in 2022 to USD 16.32 Billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 18.50% over the forecast period

Hodess Cleanroom Construction expands its cleanroom services capabilities with the acquisitions of Protocol Management Services and Clean Rooms West

Medtronic Will Invest Up to $75 Million And begin Co-Promotion For CathWorks’ FFRangio System In The U.S. Europe and Japan

Tornier Shoulder Arthroplasty Portfolio Introduced by Stryker, With New Tornier Perform Humeral System Launched in Europe