2nd Jul 2019 10:07
(Alliance News) - BTG PLC on Thursday said Boston Scientific Corp has agreed to sell an existing business to Varian Medical Systems Inc.
The deal is subject to the GBP3.3 billion acquisition of FTSE 250-listed pharmaceutical firm BTG by Boston Scientific subsidiary Bravo Bidco Ltd at 840 pence per share. The BTG acquisition has been cleared in Germany.
The "drug-eluting and bland embolic microsphere business", which includes Oncozene, Embozene, and Embozone Tandem, will be sold for an undisclosed sum to Varian. The embolic microsphere business concerns products intended to restrict blood flow to hypervascular tumours and prostatic arteries.
Shares in BTG were up 0.3% at 837.25 pence in London on Tuesday. The former British Technology Group listed on the London Stock Exchange in 1995.