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  • Boston Scientific Announces Agreement to Purchase Majority Stake of M.I.Tech Co., Ltd from Synergy Innovation Co., Ltd

    MARLBOROUGH, Mass., June 15, 2022 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has entered into a definitive agreement with Synergy Innovation Co., Ltd, to purchase its majority stake (approximately 64 percent) of M.I.Tech Co., Ltd, ("M.I.Tech") a publicly traded Korean manufacturer and distributor of medical devices for endoscopic and urologic procedures. M.I.Tech is the creator of the HANAROSTENT technology, a family of conformable, non-vascular, self-expanding metal stents, which have been distributed by Boston Scientific in Japan since 2015. The agreement consists of a purchase price of KRW 14,500 per share, which represents a total of KRW 291.2 billion or approximately $230 million at current exchange rates, subject to closing adjustments.

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