# Boston Scientific to purchase majority stake of M.I.Tech for $230M

Boston Scientific Corporation entered into a definitive agreement to purchase approximately 64% of M.I.Tech Co., Ltd from Synergy Innovation Co., Ltd for KRW 291.2 billion (about $230 million). M.I.Tech manufactures medical devices for endoscopic and urologic procedures.

- Type: Acquisition
- Announced: 2022-06-15
- Where: South Korea
- Value: $230.0M (291.2B KRW)
- Status: announced
- Products: non-vascular stents, HANAROSTENT technology
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Boston Scientific](https://endata.com/companies/15966.md) (acquirer)
- [M.I.Tech](https://endata.com/companies/63478.md) (target)
- [Synergy Innovation](https://endata.com/companies/63479.md) (partner)

## Sources

- [news.bostonscientific.com](https://news.bostonscientific.com/2022-06-15-Boston-Scientific-Announces-Agreement-to-Purchase-Majority-Stake-of-M-I-Tech-Co-,-Ltd-from-Synergy-Innovation-Co-,-Ltd), 2022-06-15: "Boston Scientific Corporation 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"
- [thehealthcaretechnologyreport.com](https://thehealthcaretechnologyreport.com/boston-scientific-gains-majority-stake-in-partner-m-i-tech-for-230m/), 2022-07-05: "Boston Scientific is making headlines with its agreement to shell out $230 million for an estimated 64% majority ownership of seven-year partner M.I.Tech."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.