Silk Road Medical, Inc. has announced that it has entered into a definitive agreement to be acquired by Boston Scientific Corporation for $27.50 in cash per share, representing an equity value of approximately $1.26 billion. This per share price represents an approximate 38% premium to the volume-weighted average share price of Silk Road Medical’s common stock over the past 60 days.
The board of directors of Silk Road has unanimously approved the transaction and recommended that Silk Road stockholders adopt the merger agreement. The transaction is expected to close in the second half of 2024, subject to the satisfaction of customary closing conditions, including approval by Silk Road’s stockholders and applicable regulatory approvals.
Upon the completion of the transaction, Silk Road will become a wholly-owned subsidiary of Boston Scientific.
Silk Road Medical, Inc. is a medical device company focused on reducing the risk of stroke and its devastating impact. The company has pioneered a new approach for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR).
In addition to the acquisition announcement, it is noteworthy to mention that there are no specific metrics or figures provided in the press release to compare the current financial standing of Silk Road Medical, Inc. with the previous period. As a result of these announcements, the company's shares have moved 24.0% on the market, and are now trading at a price of $26.88. For more information, read the company's full 8-K submission here.
