Bayer Selling Interventional Devices to Boston Scientific
Bayer HealthCare has announced a "definitive agreement" to sell its Interventional device business to Boston Scientific for $415 million. The sale include devices used in cardiology, radiology and peripheral vascular procedures. Closing is set for the second half of this year, following all approvals.
The business had $120 million in sales in 2013.
"With this sale, our Medical Care division can concentrate on innovation and growth in radiology and diabetes care where we already have a strong presence," said Olivier Brandicourt, CEO of Bayer HealthCare.
In radiology, Bayer claims global leadership in contrast-enhanced diagnostic imaging equipment, contrast agents and informatics for Total Dose Management (contrast and radiation). In the diabetes franchise, the German group is regarded as a technological leader in blood glucose monitoring systems, lancing devices and diabetes management software.
Evonik starts medical devices project house
Separately, another Germany company, Evonik, has launched a Medical Devices Project House. The facility, the company's 11th R&D project house, has its main campus in Birmingham, Alabama, in the US, and a branch in Hanau, Germany.
The aim of the new project house is to develop new system solutions for medical technology and to expand the company's competence in biomaterials and polymers.
Peter Nagler, chief innovation officer at Evonik, said the company wants to open up new growth opportunities in the medical technology market, which is worth €300 billion and enjoys annual growth rates of 6%. The US accounts for 40% of the market.