Dallas, Texas 11/14/2013 (Financialstrend) – The S&P 500 index tracked Boston Scientific Corporation (NYSE:BSX) announced last week that it had successfully closed its acquisition of Brad EP. Thanks to the takeover of this “electrophysiology” practise from C.R. Brad, the firm is all set to take on entrenched competition in the EP market at a global scale. Readers should note that the global electrophysiology market is growing at a phenomenal 10% on a annualized basis and is currently scoped out at $2.5 billion annual revenue by industry watchers.
The takeover has equipped the $15.99 billion market capped company to expand its service offerings around the EP tests and will also enable it to offer testing solutions to heart related catheter insertions. With the buyout of the older generation EP testing business, Boston Scientific Corporation (NYSE:BSX) would be able to offer a full spectrum of solutions and services ranging from low cost older tech to highly advanced catheters which can be used for their therapeutic and diagnostic functionalities.
Commenting about the completion of the acquisition process, Pete Sommerness who head the Electrophysiology division at Boston Scientific Corporation (NYSE:BSX) has commented that, “Completing this transaction is an important part of our global strategy to grow and transform our EP business. We believe that the complementary capabilities that this transaction brings, including expertise in capital equipment sales and service, will enable us to offer more complete solutions to help electrophysiologists diagnose and treat patients with cardiac arrhythmias.”
Looking ahead, the firm wants to leverage the technology acquired to reduce the time required for developing and launching of new EP testing methods and hopes to gain quicker traction in the market for its recently green flagged “IntellaTip MiFi™ XP ablation catheter and next-generation Rhythmia™ Mapping System”. The shares of the stock have gained by 8.45% in the past 90 days.