Boston Scientific Seals $1.16B Silk Road Deal

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Boston Scientific $1.16B Silk Road Deal

Latham & Watkins-advised Boston Scientific Corp. announced Tuesday its agreement to acquire medical device maker Silk Road Medical Inc., represented by Wilson Sonsini, for an enterprise value of approximately $1.16 billion.

Boston Scientific $1.16B Silk Road Deal : Acquisition Details

Boston Scientific revealed the agreed purchase price for Silk Road at $27.50 per share, marking a nearly 27% premium to its prior day closing price. Following the disclosure of the deal, Silk Road’s stock surged about 24% to $26.90 per share on Tuesday.

Silk Road’s Medical Innovations

Silk Road Medical’s products focus on stroke prevention in patients with carotid artery disease—a condition where neck arteries become narrowed or blocked by plaque buildup. Their key procedure, transcarotid artery revascularization (TCAR), involves inserting a stent into the carotid artery to prevent plaque from dislodging or accumulating. The TCAR system received U.S. Food and Drug Administration approval in 2015.

Statements from Boston Scientific

“The TCAR platform developed by Silk Road Medical is a notable advancement in the field of vascular medicine, which has revolutionized stroke prevention and the treatment of carotid artery disease,” said Cat Jennings, president of Vascular, Peripheral Interventions, at Boston Scientific, in a statement.