Merger Arbitrage Mondays – Boston Scientific To Acquire Apollo Endosurgery

Merger activity declined last week with one new deal announced, and five deals completed.

Boston Scientific Corporation (BSX) entered into a definitive agreement to acquire Apollo Endosurgery (APEN) on November 29, 2022, to expand its portfolio of gastro devices.

Apollo Endosurgery, a medical technology company focuses on less invasive therapies for the treatment of various gastrointestinal conditions, ranging from gastrointestinal defect repairs to the interventional treatment of obesity. The company’s product portfolio includes the OverStitch™ Endoscopic Suturing System, the OverStitch Sx™ Endoscopic Suturing System, and the ORBERA® Intragastric Balloon.

In its third quarter earnings, the company reported that its U.S. revenue grew by 29% and OUS revenue grew by 9% (18% in constant currency) over the same period in 2021.

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