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Boston Scientific mum on reported Stryker takeover move

by Thomas Dworetzky , Contributing Reporter
Boston Scientific is mum on Stryker's alleged takeover bid, initially reported by The Wall Street Journal, according to CNBC.

In an SEC filing Boston Scientific said only that it “is aware of reports speculating that the company has been approached by Stryker Corporation regarding a potential acquisition," the news channel reported, noting that the company also stated that, as was its practice, it “does not comment on market rumors or speculation."

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A Stryker spokesman told CNBC that the company won't comment on possible moves.

The possible deal would bring together two giant medical device makers with a value of over $110 billion, according to the Journal, which cited unnamed sources. No news yet whether the offer will get a warm or chilly reception.

Boston Scientific has a market capitalization of $47.6 billion, according to CNBC. Stryker's market capitalization is $64.9 billion

The deal would give the pair the heft to take on medical device colossus Medtronic, with a $117.3 billion market value.

Together the pair could offer a range of devices, including orthopedic products and cardiac products, like pacemakers.

The two have overlap in some areas, including implantable spinal cord stimulators for chronic pain.

BMO Capital Markets analyst Joanne Wuensch told CNBC that were they to join together it would represent a last "major puzzle piece" acquisition in the med tech industry consolidation.

But J.P. Morgan analyst Robbie Marcus cast some shade on the possible deal, stating that his team "aren't big believers" in “bigger is better,” and opined in his letter that Stryker was running smoothly as it is, and Boston would not necessarily be interested, and also raised the prospect of additional bidders entering the fray, according to the business news station.

Both companies have been active in the acquisition arena lately.

In May, Stryker’s Sustainability Solutions division announced the completion of its acquisition of Hygia Health Services, which focuses on reprocessing patient care single-use devices (SUDs) in the U.S., according to a company statement.

“In line with our commitment to help hospitals and health systems increase the value their SUD reprocessing programs deliver, this acquisition will enhance our ability to deliver savings to our customers,” said Brian White, president, Stryker’s Sustainability Solutions division. “Furthermore, our broader product portfolio will help customers elevate their sustainability goals and set a higher bar for sustainable healthcare delivery.”
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