High Rate of Emissions from Cement and Steel Manufacturing in 2024
Boston Scientific Entered into an Agreement to Acquire Apollo Endosurgery, Inc.
By Rahul Gotadki , 06 December, 2022
Boston Scientific revealed to enter into a definitive agreement to acquire Apollo Endosurgery, Inc. by paying USD 10 per share in cash, signifying the company's valuation to be around USD 615 million. The recent De Novo clearance from FDA for treating bariatric and other procedures and extensive product pipeline for the endoscopy segment pursued Boston Scientific to add Apollo Endosurgery's commodity to their product portfolio. The company's acquisition is aimed at strengthening the endoscopy bariatric business of Boston Scientific.
The emerging demand for endoluminal surgery (ELS) and the high success rate of the endoscopy procedure created intent for the acquisition of Apollo Endosurgery. Also, Boston Scientific planned to expand its expertise in the ELS domain using Apollo Endosurgery's unique, innovative measures. Moreover, the acquisition enabled the organization to expand its expertise in a new adjacent market (endobariatric industry) and is anticipated to deliver robust and prolonged market growth in the projected period.
The growth in Apollo Endosurgery's endoscopic suturing system franchise comprises the X-Tack Endoscopic HeliX Tracking System, OverStitch Sx Endoscopic Suturing System, and OverStitch Endoscopic Suturing System. They are likely to record net sales of nearly USD 76 million by the end of the year (2022). Therefore, these aspects strengthen the business outlook and create a favorable trade environment for Boston Scientific.
A major factor expected to benefit Boston Scientific is the De Novo clearance of Apollo Endosurgery's Apollo ESG and Apollo Revise series systems. These FDA-authorized devices will be used to conduct endoscopic bariatric revision and endoscopic sleeve gastroplasty procedures. The approval of the systems is likely to support the organization's sales and help the company hold a significant share of the bariatric surgery market. Moreover, Boston Scientific anticipates settling the payment in the first two quarters of 2023 while looking at future economic and demographic trends and regulatory conditions.Average Weight Loss-Gastric Sleeve, RNY Gastric Bypass, Lap Band to Sleeve
Latest News
High Rate of Emissions from Cement and Steel Manufacturing in 2024
The United Nations Environment Programme (UNEP) claims limiting the increase in global average temperature to 1.5 degrees Celsius is quite unrealistic. The emission rate from different industries shows various results in the reports published by UNEP…
Gen AI Revolutionizes Insurance Sector, Tries to Build Consumers’ Trust
Insurer executives worldwide report that generative AI is critical to maintaining their edge in the insurance market, and as such, 77% of them rank its significance. But customers, in this case, the clients of insurance companies, are more cautious…
China Plans to Manufacture Fastest Charging EV Batteries
China rightfully takes center stage in progress in ultra-fast charging EV batteries. As it appears, a Chinese electric vehicle manufacturer has emerged as a clear industry leader by developing the fastest charging battery in the world that can go…
Chinese Tech Sector Strengthens, may Dominate Western Big Techs in the Future
Chinese market goes through significant economic changes in 2024. Globally, Chinese brands are climbing the ladder higher in the market. A 2024 survey shows the performance of some Chinese companies with the highest brand value. These companies help…
Supply Chain Disruptions causes Slow Clean Energy Transition
There is a global race to clean energy sources because of climate change in 2024. However, there is a danger that the impending metal supply crisis will offset this gain. The move to renewable energy technologies greatly depends on critical minerals…
Rahul Gotadki
Assistant Manager
