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Boston Scientific Expands Its Endoscopy Business with EMcision Acquisition


Nov. 20 2020, Updated 3:56 p.m. ET


On March 5, 2018, Boston Scientific (BSX) announced the acquisition of EMcision, which will expand the company’s endoscopy business. That day, BSX stock rose ~2.4%. The terms of the transaction have not been disclosed.

Highlights from 4Q17 of the company’s MedSurg segment, which includes its endoscopy division, are shown in the table above. In December 2017, major endoscopy peer Medtronic (MDT) acquired Irish company Crospon. Stryker (SYK) acquired Novadaq in June 2017 and enhanced its endoscopy division. Ethicon, a subsidiary of Johnson & Johnson (JNJ), also competes in this market and provides some market-leading endoscopy products. Its endoscopic staplers have seen higher demand due to laparoscopic procedures increasing.

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Deal rationale and market opportunities

According to Boston Scientific, ~1 million deaths around the globe every year are caused by pancreaticobiliary cancers, which have limited treatment options. Currently, only 40% of cholangiocarcinoma patients and 20% of pancreatic cancer patients meet the criteria for surgery. The devices developed by EMcision allow these patients to undergo surgery for cancer treatment.

Boston Scientific has accelerated its endoscopy product portfolio expansion with the acquisition of EMcision. The endoscopy division’s operating margins are among the company’s widest. In November 2016, Boston Scientific also acquired EndoChoice Holdings, which is now fully integrated and contributed significantly to the company’s 2017 results. For further details, read Major Drivers of Boston Scientific’s MedSurg Business Growth in 2018.


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