Boston makes a Korea change

In a reminder that stents aren’t just for the vasculature, Boston Scientific has bought MI Tech, a maker of devices designed not for blood vessels but to prop open other passages such as the oesophagus and bile ducts. Boston has acquired 64% of the South Korean group from its current owner, Synergy Innovation, for KRW291.2bn ($230m). Though this is a smallish bolt-on by Boston’s historical standards, so quiet has 2022 been for M&A that, astonishingly, it qualifies as the seventh-largest acquisition of the year so far. Otherwise Boston has followed its usual MO of buying a group with which it has an existing relationship: the US company has distributed MI Tech’s Hanarostent franchise in Japan since 2015. Boston’s shares rose 4% on the news.

Top 10 M&A deals of 2022
Announcement date Acquirer Target Value ($m) Focus
Jan 1 Owens & Minor Apria 1,450 Anaesthesia & respiratory
Apr 18 Archimed Natus Medical 1,200 Anaesthesia & respiratory, neurology
Feb 7 The Cooper Companies Reproductive Health business of Cook Group 875 Obstetrics & gynaecology
Jan 10 Medtronic Affera 675 Cardiology
Apr 1 Biomérieux Specific Diagnostics 426 In vitro diagnostics
Jan 5 Vera Whole Health Castlight Health 370 Healthcare IT
Mar 31 Fresenius Ivenix 240 Drug delivery
Jun 15 Boston Scientific MI Tech 230 Gastroenterology
Jan 9 Exact Sciences Prevention Genetics 190 In vitro diagnostics
Apr 18 Fulgent Genetics Inform Diagnostics 170 In vitro diagnostics
Source: Evaluate Medtech & company communications. 

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