Health
Boston Scientific to Buy Penumbra for More Than $14 Billion
Penumbra makes devices to treat vascular and neurovascular conditions.
Source: Penumbra Inc.
Boston Scientific Corp. agreed to buy medical device maker Penumbra Inc. in a deal valued at more than $14 billion to expand in the treatment of blood clots and stroke.
Boston Scientific said it will pay $374 a share in cash and stock for Penumbra, which makes products to remove blood clots from veins and arteries. That’s about 19% above Penumbra’s closing price on Wednesday.