U.S. medical devices company Boston Scientific on Thursday agreed to purchase Bayer AG's vascular catheter business for $415 million to widen its range of devices to treat clogged blood vessels.Boston Scientific said the business, called Bayer Interventional, will help it expand its portfolio of devices for cardiology, radiology and peripheral vascular procedures."This transaction will enable us to reach more effectively the more than 27 million patients worldwide who suffer from the debilitating effects of peripheral vascular disease," it said, referring to the obstruction of large blood vessels, typically in arms or legs.The all-cash deal is expected to close in the second half of 2014.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. Shares of BSX fell by 0.08% or $-0.01/share to $12.79. In the past year, the shares have traded as low as $8.70 and as high as $14.08. On average, 12052300 shares of BSX exchange hands on a given day and today's volume is recorded at 12611788.
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