WASHINGTON (dpa-AFX) - Boston Scientific (BSX) and EndoChoice Holdings, Inc. (GI) announced a definitive agreement under which Boston Scientific has agreed to acquire EndoChoice. Boston Scientific will launch a tender offer for all EndoChoice outstanding shares at a cash price of $8.00 per share. The total equity value of the deal is approximately $210 million.
Boston Scientific expects the acquisition to be breakeven to the company's adjusted earnings per share in 2017, and accretive thereafter. The transaction is expected to be less accretive on a GAAP basis, due to amortization expense and transaction and integration costs.
EndoChoice develops and commercializes products and services for specialists treating a wide range of gastrointestinal conditions. The EndoChoice imaging portfolio includes the Full Spectrum Endoscopy (FUSE) colonoscope, which enables doctors to better see anatomy and find more lesions during colonoscopies. With respect to the FUSE colonoscope, Boston Scientific intends to evaluate strategic options. EndoChoice will become part of the Boston Scientific endoscopy business.
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