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Bids, Mergers and Takeovers

BTG acquires Roxwood; reiterates sales guidance

05 October 2017 08:15

BTG, the global specialist healthcare company, has acquired Roxwood Medical, an innovative provider of advanced cardiovascular speciality catheters used in the treatment of patients with severe coronary and peripheral artery disease. Roxwood's anchoring catheters (CenterCross, CenterCross Ultra, MultiCross) and microcatheters (MicroCross) offer options for physicians in the crossing of complex lesions and arterial blockages.

By incorporating a self-expanding scaffold that stabilises the delivery of a guidewire, Roxwood's catheters provide positioning accuracy and support to facilitate the crossing of blockages, mitigating guidewire buckling and enabling treatments such as angioplasty, stenting or atherectomy.

BTG will pay up to $80m in cash to acquire Roxwood, comprising $65m paid on closing and up to an additional $15m should certain future commercial milestones be achieved.

Separately, BTG said it had delivered a good performance in the first half of the year, with double-digit CER product sales growth. The group reiterated its product sales guidance for the full year.

At 8:15am: (LON:BTG) BTG PLC share price was +4.5p at 696p

Story provided by StockMarketWire.com

Related Company: BTG

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