The acquisition of the gastroenterology company is at a 100% premium on the market price.
EndoChoice, which markets a variety of gastrointestinal endoscopy products, headed by the Full Spectrum Endoscope, a unique Israeli-developed colonscope, today announced that it would be acquired by Boston Scientific for $210 million. EndoChoice is listed on Nasdaq at a $109 million market cap, meaning that the acquisition is at a premium of almost 100%.
EndoChoice held its IPO in 2015, raising $96 million at a company value of $366 million, after money, and reached a peak market cap of $450 million. Sources inform "Globes" that shortly before the IPO, an offer was made to acquire the company at a value of over $400 million, but the US investors turned the deal down, believing that a higher market cap could be achieved.