Recent Cases Oct 19, 2021
Baylis Medical’s Cardiology Business Sold to Boston Scientific
Baylis Medical Company Inc., a leader in the development and commercialization of innovative medical devices in the fields of cardiology and spine, recently sold part of its business to Boston Scientific Corporation, a US-based medical device company marketing its products worldwide.
The acquisition, for an upfront payment of $1.75 billion USD, subject to closing adjustments, will see Baylis Medical Company and its cardiology products transition to Boston Scientific. This includes the NRG® Transseptal Platform, the VersaCross® Transseptal Platform, as well as its full suite of transseptal sheaths and dilators, and ventricular tachycardia solutions.
Baylis Medical's affiliate – Mississauga-based Baylis Medical Technologies – is not part of the transaction and will remain a separate entity. Baylis Medical Technologies will continue to expand the development and production of its medical devices focused in the areas of radiology and neurosurgery.
The acquisition of Baylis Medical Company by Boston Scientific is anticipated to drive growth and adoption of the cardiology technologies worldwide, and will build on a longstanding history of designing, developing and delivering high-quality medical products to patients globally.
The transaction is anticipated to close in the first quarter of 2022, subject to customary closing conditions. Until then, both Baylis Medical Company and Boston Scientific will operate separately and prepare for successful integration. There is no anticipated impact or disruptions to existing customers with this announcement.
BCF is proud to have represented Baylis Medical Company in this cross-border life sciences transaction with a team composed of Gino Martel, Annie Gauthier, Sabrina Brosseau-Malo, Olivier Moreau-Notebaert and Thomas Champagne (M&A), Marc-André Godard et Jean-François Reed (Tax), Nancy Boyle and Kevin Vincelette (Employment & Labour), Richard Epstein (Antitrust and Investment Canada Act), Eleonora Eusepi (Real Estate), Tuba Yamaç, Jean-Sébastien Brière and Jyoti Chakraborty (Intellectual Property) and Emilia Stoute (Corporate).
To read the press release, please click here.
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