Business

Boston Scientific to buy Bard unit for $275m

Michael Mahoney is the president an CEO of Boston Scientific.
Michael Mahoney is the president an CEO of Boston Scientific.Credit:

This is a summary. To read the whole story subscribe to BostonGlobe.com

Natick medical device company Boston Scientific Corp. said it agreed to pay $275 million in cash to buy Bard EP, the electrophysiology business of C.R. Bard. The deal is expected to broaden the range of products Boston Scientific can offer to treat abnormal heartbeats and other cardiac problems. Electrophysiology is a $2.5 billion global market that is growing at nearly 10 percent annually. Bard EP is based in Lowell. The company generated sales of $111 million in 2012 and has a worldwide headcount of nearly 180 employees. The deal is expected to close later this year.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Share