Marlborough, Mass.-based Boston Scientific has agreed to acquire UK-based BTG, which develops products used to treat cancer and vascular diseases, for $4.24 billion. Of BTG’s three key businesses, the largest is its interventional medicine portfolio, which encompasses several peripheral interventional product lines.

Moreover, BTG’s interventional oncology franchise includes the TheraSphere Y-90 radiotherapy microspheres and the GALIL cryoablation system, used to treat patients with liver, kidney, and other cancers. Specifically, the company’s interventional medicine business includes filters, crossing catheters, microfoam, and the EKOS Endovascular System—the latter of which was the first device cleared by the U.S. FDA for the treatment of pulmonary embolism.

“The acquisition of BTG and its rapidly growing peripheral interventional portfolio is an exciting extension of our category leadership strategy that will augment our capabilities in important areas of unmet need such as cancer and pulmonary embolism,” says Mike Mahoney, chairman and CEO of Boston Scientific. “We are confident that the addition of these therapies to our portfolio will ultimately advance patient care in ways that could not be realized by either company alone, while also allowing us to realize substantial revenue and cost synergies and provide a strong return for investors.”

The BTG portfolio also includes a pharmaceutical business comprised of acute care antidotes to treat overexposure to certain medications and toxins, and a licensing business that receives royalties relating to products subject to BTG intellectual property and license agreements. The company has 1,600 employees globally, located in North America, Europe, Asia, and Australia.

“Boston Scientific shares our commitment to transforming patient care, and has a sustained track record of innovation, clinical expertise and global commercial capabilities,” says BTG’s CEO Dame Louise Makin. “The combined organization will be well positioned for success, enabling our valuable products to make a real difference to more people around the world.”