Boston Scientific will pay $4.24 billion for UK-based BTG.

U.S.-based medical device company Boston Scientific is making a move to expand its position in interventional medical products. The company has agreed to pay $4.24 billion for UK-based BTG, a developer of products used to treat cancer and vascular diseases.

The interventional medicine portfolio, which comprises several peripheral interventional product lines, is the largest of BTG’s three key businesses. It includes filters, crossing catheters, microfoam and the EKOS Endovascular System, which was the first device cleared by the U.S. FDA for the treatment of pulmonary embolism. 

BTG oncology products include TheraSphere Y-90 radiotherapy microspheres and the GALIL cryoablation system. Its pharmaceutical business also includes acute care antidotes to treat overexposure to certain medications and toxins and a licensing business that receives royalties relating to products subject to BTG intellectual property and license agreements.

According to Boston Scientific chairman and CEO Mike Mahoney, the acquisition of BTG will expand the company’s capabilities in important areas of unmet need such as cancer and pulmonary embolism. He also believes that combining the technologies of the two companies will enable the development of new products that would not be possible if the companies continued working separately.