LONDON: British drugs company BTG Plc said on Thursday it will buy US-based cardiovascular catheter maker Roxwood Medical for up to $80 million.
The deal, which is expected to be accretive to adjusted profit from the second full year of ownership, comprises $65 million paid on closing and up to $15 million in potential milestones.
Roxwood’s portfolio of anchoring catheters and micro-catheters for treatment of complex cardiovascular lesions should leverage BTG’s existing successful EKOS (endovascular system) sales and marketing operation, Deutsche Bank analysts said in a note. — Reuters
Oman Observer is now on the WhatsApp channel. Click here
