Boston Scientific (NYSE:BSX) has agreed to acquire privately held VENITI, the maker of the VICI VENOUS STENT System for treating venous obstructive disease. BSX has owned 25% of the Fremont, CA-based device firm since 2016.
Under the terms of the deal, BSX will pay $108M upfront plus up to $52M contingent on FDA approval of the VICI stent system. It was CE Mark'd in 2013.
The transaction, expected to close shortly, will be immaterial to BSX's non-GAAP EPS in 2018 and 2019, but will be accretive thereafter. On a GAAP basis, it will be less accretive/more dilutive due to amortization expense and acquisition-related charges. This year, the transaction will be accretive due to a one-time gain on the 25% investment.
