Boston Scientific Corp. will pay $415 million to buy a division of German drug maker Bayer AG , a unit whose products include a system for removing blood clots from arteries and veins.
Boston Scientific already sells a wide range of catheters, stents, wires, and balloons that are used to treat vascular conditions, but the deal will expand the “breadth and scale” of the Natick medical-device maker’s portfolio, said Jeff Mirviss, president of its peripheral interventions unit.
“Our goal is to be the clear leader in providing solutions to treat complex vascular” conditions, Mirviss said in an interview.
The sale of the Bayer Interventional division -- which was made public Thursday -- includes the AngioJet system, which is used to remove blood clots, as well as the JetStream Atherectomy System, a minimally invasive device that cleans plaque from diseased arteries, mostly in legs.
Bayer’s Interventional division is based in Minnesota and has about 350 employees. In 2013, it generated sales of $120 million, while Boston Scientific reported $7.14 billion in sales.
“We believe this transaction will enable us to reach more effectively the greater than 27 million patients worldwide who suffer from the debilitating effects of peripheral vascular disease,” Boston Scientific chief executive Mike Mahoney said in a statement.
The company said it expects to close the deal in the second half of the year.Chris Reidy can be reached at email@example.com.