Keep an eye on NVCN for a major breakout and test of 52 week highs.
Huge deal and potential buyout candidate
Boston Scientific (BSX) Inks $75 Million Deal with Neovasc
In its effort to enhance innovations, particularly in its key growth markets, Boston Scientific Corporation BSX recently inked a deal with specialty medical device company Neovasc Inc. (NVCN), which caters to the cardiovascular market. Per the deal, Boston Scientific will buy Neovasc’s tissue processing technology and facility for $67.9 million.
The buyout should fortify Boston Scientific’s Lotus Transcatheter Aortic Valve business within its growing Structural Heart segment. In addition, the company intends to acquire 15% equity interest in Neovasc for $7.1 million. However, this is subject to certain regulatory approvals, including that of the Toronto Stock Exchange.
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