BTG PLC is acquiring Roxwood Medical, a developer of advanced cardiovascular specialty catheters used to treat patients with severe coronary and peripheral artery disease.
BTG will pay up to $80 million in cash, comprising $65 million paid on closing and up to $15 million upon achieving certain milestones. The deal is expected to be accretive to BTG's adjusted EPS from the second full year of ownership.
The acquisition builds BTG's presence in the interventional vascular space and expands its portfolio of differentiated minimally invasive vascular technologies, BTG Chief Commercial Officer John Sylvester said.
Roxwood products will be offered through BTG's existing EKOS hospital sales force.