BCF Business Law is advising on the deal
Baylis Medical Company Inc. announced its agreement to sell its cardiology business to Boston Scientific Corporation for an upfront payment of $2.1 billion, subject to closing adjustments.
BCF Business Law represented Baylis Medical in this cross-border life sciences transaction.
By selling part of its business to a US-based medical device company, Baylis Medical said it anticipates further growth as well as worldwide adoption of the cardiology technologies that Baylis Medical built on a longstanding history of “investing in the Canadian biomedical sector.”
“We are thrilled that Boston Scientific has committed to continue the Baylis Medical Company legacy and will further enhance our efforts to bring these technologies to a greater number of physicians and patients with their significant global reach,” said Kris Shah, President, Baylis Medical. “As well, we look forward to increasing our investments in our Baylis Medical Technologies business and in Canada’s rich medical technology industry.”
The transition of the Baylis Medical Company and its cardiology products to Boston Scientific includes the NRG Transseptal Platform, the VersaCross Transseptal Platform, as well as its full suite of transseptal sheaths and dilators and ventricular tachycardia solutions.
The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions. Prior to the closing of the deal, both Baylis Medical and Boston Scientific will operate separately as they prepare for successful integration. Mississauga-based Baylis Medical Technologies, Baylis Medical’s affiliate, is not part of the transaction and will remain a separate entity. There is no anticipated impact or disruptions to existing customers with this announcement.
BCF’s team was composed of Gino Martel, Annie Gauthier, Sabrina Brosseau-Malo, Olivier Moreau-Notebaert, Thomas Champagne, Marc-André Godard, Jean-François Reed, Nancy Boyle, Kevin Vincelette, Richard Epstein, Eleonora Eusepi, Tuba Yamaç, Jean-Sébastien Brière, Jyoti Chakraborty and Emilia Stoute.
BCF worked in collaboration with Cooley LLP.
