November 29, 2022

Boston Scientific Corp. said Tuesday it has agreed to acquire

Apollo Endosurgery Inc.  for $10 a share, or about $615 million 

in cash.  The news sent Apollo's stock, which closed Monday at 

$6, up 61% in premarket trade. The company has a portfolio of

 devices used in endoluminal surgery procedures to close 

gastrointestinal defects, manage gastrointestinal complications

and aid in weight loss for patients suffering from obesity, and is 

expected to generate net sales of about $76 million in 2022. 

"Endoluminal surgery is an emerging field and a core focus for 

our Endoscopy business," said Mike Jones, senior vice president 

and president, Endoscopy, Boston Scientific.  The deal is expected  

to close in the first half of 2023. The deal is expected to be

immaterial to Boston Scientific's per-share earnings in 2023, but 

to boost them after that. Boston Scientific shares were not yet 

active premarket, but have gained 3% in the year to date,

while the S&P 500 has fallen 17%.