UK Drugmaker Pays Up To $80 Million For Bay Area's Roxwood Medical
(Reuters) - British drugs company BTG Plc (BTG.L) said on Thursday it will buy U.S.-based cardiovascular catheter maker Roxwood Medical for up to $80 million.
The deal, which is expected to be accretive to adjusted profit from the second full year of ownership, comprises $65 million paid on closing and up to $15 million in potential milestones.
Roxwood’s portfolio of anchoring catheters and microcatheters for treatment of complex cardiovascular lesions should leverage BTG’s existing successful EKOS (endovascular system) sales and marketing operation, Deutsche Bank analysts said in a note.
The deal, which is expected to be accretive to adjusted profit from the second full year of ownership, comprises $65 million paid on closing and up to $15 million in potential milestones.
Roxwood’s portfolio of anchoring catheters and microcatheters for treatment of complex cardiovascular lesions should leverage BTG’s existing successful EKOS (endovascular system) sales and marketing operation, Deutsche Bank analysts said in a note.