Stryker proposes a takeover bid for Boston Scientific Corporation
Category: #health  By Saipriya Iyer  Date: 2018-06-12
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Stryker proposes a takeover bid for Boston Scientific Corporation

Stryker Corporation, a Fortune 500 medical tech firm, has reportedly announced that it plans to acquire Boston Scientific Corporation, a U.S. based medical device manufacturer. Incidentally, both the firms boast of a considerable number of operations in Ireland.

For the record, Stryker alone encompasses a workforce of 2,000 at four sites in Ireland – one at Limerick and three at Cork. Boston Scientific, reputed for the production of pacemakers & stents, has over 3,000 staff working for the company in Ireland, that houses three of Boston’s five European facilities.

According to Bloomberg, the market value of Boston Scientific Corp. has been estimated at approximately USD 50 billion, while Stryker Corp. is currently evaluated at USD 65 billion. Boston Scientific is facing tough competition from Edward Lifesciences Corp. and Medtronic plc across the medical devices market. However, the firm is likely to introduce the new version of its Lotus device in the market next year. Last year, it had withdrawn the earlier version of the device from Europe medical device market.  

The deal between the two medical device manufacturers is likely to be the latest among the acquisition wave witnessed across the healthcare sector. As per authentic reports, last year, Abbot Laboratories, a U.S. based healthcare firm, acquired St. Jude Medical Inc., an American medical device firm, for USD 25 billion. Later, during the same year, Abbot Laboratories purchased Alere Inc., medical testing & diagnostics supplier for USD 5 billion. In yet another acquisition move witnessed across healthcare, Medtronic purchased Covidien for approximately USD 46 billion in 2015.

While Stryker Corp has already initiated a takeover approach, it is still doubtful whether Boston Scientific Corp. would be receptive to the same, cite reports. However, analysts speculate that the merger between both these medical magnates may increase their overall worth while helping them sell their products across a common consumer base.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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