Terumo Corporation (TSE: 4543) today announced that it has entered into a definitive agreement under which Terumo has agreed to acquire Bolton Medical, Inc. from its parent company. Bolton Medical is a leading innovator in thoracic and abdominal stent graft systems.
"The acquisition will enhance Terumo's existing product portfolio in the global stent graft market and our vascular graft business will be further strengthened in the US, in what is the largest stent graft market today." said Shinjiro Sato, President of Cardiac and Vascular Company, Terumo Corporation.
The transaction is expected to close in a few months and it will be funded through cash on hand and debt. The closing is subject to antitrust clearance and other customary closing conditions. The impact of the acquisition on Terumo's financial is currently being scrutinized.
Bolton Medical is a leading provider of endovascular solutions for aortic disease based in Miami, US, with 45 million Euros in sales and over 300 employees. Devoted to improve the quality and safety in patient care by developing, manufacturing, and distributing innovative, high quality products and technology solely focused on the aorta to include TAA, AAA, and custom made stent graft systems.
Tokyo-based Terumo Corporation is one of the world's leading medical device manufacturers with over $5 billion in sales and operations in more than 160 nations. Founded in 1921, the company develops, manufactures and distributes world-class medical devices including products for use in cardiothoracic surgery, interventional procedures and transfusion medicine; the company also manufactures a broad array of syringe and hypodermic needle products for hospital and physician office use. Terumo contributes to society by providing valued products and services to the health care market and by responding to the needs of health care providers and the people they serve. Terumo Corporation's shares are listed on the first section of the Tokyo Stock Exchange (No. 4543, Reuters symbol <4543.T>, or Bloomberg 4543: JP) and is a component of the Nikkei 225, Japan's leading stock index.
Vascular Graft Division is a division of Cardiac and Vascular Company, Terumo Corporation. Vascutek Ltd., which became a part of Terumo in 2002, leads this division and has applied advanced and innovative technologies to develop a wide portfolio of products which include an extensive range of sealed woven and knitted polyester grafts for peripheral, abdominal and cardiothoracic surgery. Net sales is 13.9 billion yen (FY2015).