Boston Scientific to buy Silk Road Medical in $1.16 billion deal

(Reuters) – Boston Scientific will acquire medical device maker Silk Road Medical in a $1.16 billion deal, the companies said on Tuesday.

Silk Road Medical’s technology helps prevent stroke in patients with carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization.

Boston will pay $27.50 for each share of Silk Road held, representing a premium of 27% to the stock’s last close.

Shares of Silk Road Medical rose nearly 23% to $26.64 in premarket trading.

Boston Scientific expects to complete the transaction in the second half of 2024.

(Reporting by Sriparna Roy in Bengaluru; Editing by Sriraj Kalluvila)