Medical company Boston Scientific Corporation (NYSE:BSX) on Monday announced the acquisition of BTG plc (LSE:BTG).

Following the effectiveness of the scheme of arrangement, BTG became a wholly-owned subsidiary of Boston Scientific and BTG shares no longer trade on the London Stock Exchange.

In conjunction with the acquisition, the holders of BTG common shares will receive GBP8.40 in cash per share.

BTG reportedly develops and commercialises products used in minimally-invasive procedures targeting cancer and vascular diseases. Its three key businesses include the highly-differentiated Interventional Medicine portfolio of interventional oncology therapeutic technologies for patients with liver and kidney cancers, a vascular portfolio for treatment of deep vein thrombosis, pulmonary embolism, deep venous obstruction and superficial venous disease as well as a specialty pharmaceutical business comprised of acute care antidotes to treat overexposure to certain medications and toxins.

In connection with obtaining the antitrust clearances and the BTG transaction, Boston Scientific expects to complete the sale of its global embolic microspheres portfolio of Embozene, Embozene TANDEM and ONCOZENE brands to Varian Medical Systems Inc in due course.

(USD1=GBP8.2)