Boston Scientific Completes Acquisition of Bolt Medical, Bolstering Cardiovascular Portfolio

Medical device firm Boston Scientific (NYSE:BSX) completed its ownership in Bolt Medical by acquiring 74% of the remaining stake for $664 million, and therefore Boston Scientific has the ultimate control and 100% ownership over Bolt Medical. Bolt Medical’s intravascular lithotripsy (IVL) technology is the main reason for the acquisition.

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The IVL treatment is using acoustic pressure waves, the sound waves that travels through medium like air, water or muscle tissue, that are used to break up calcified deposits in arteries making it easier to treat blockages in patient’s heart.

IVL is a minimal invasive procedure for clearing arterial blockage that is gaining popularity rapidly after FDA approval in 2016 that is now used among cardiovascular patients. The technology complements Boston Scientific that is heavily focused on cardiovascular diseases.

Boston Scientific offers a 3-year CAGR of 11.6% in revenue growth, with efficient operations that result in thick profitability of a 68.96% gross margin and an 11.25% net margin.

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With good growth and robust profits, Boston affords itself a strong balance sheet. The market values Boston Scientific quality package that sent Boston Scientific’s stock rose nearing its 52-week high with its current price of $95.95 per share, or $33.12 above the GF Value of $62.83 per share. Its full ownership to Bolt Medical can add more revenue and potentially lead to higher stock appreciation.

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This article first appeared on GuruFocus.