By Colin Kellaher


Boston Scientific has struck a deal to buy medical-device maker Silk Road Medical for about $1.26 billion, adding a technology for stroke prevention to its vascular portfolio.

Boston Scientific on Tuesday said it would pay $21.67 a share in cash for Silk Road, a 27% premium to Monday's closing price of $27.50 for the Sunnyvale, Calif., company.

Including Silk Road's roughly $100 million cash position, the deal carries an enterprise value of about $1.16 billion, Boston Scientific said.

The Marlborough, Mass., medical-technology company said the acquisition adds a platform of products to prevent stroke in patients with carotid artery disease through a minimally invasive procedure called transcarotid artery revascularization.

Boston Scientific said it expects to complete the acquisition in the second half of the year.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

06-18-24 0731ET