BTG has entered into an M&A news agreement to buy EKOS Corporation on a debt free cash free basis for an initial cash consideration of approximately US$180 million and up to US$40 million in future milestone payments.

The rationale for the acquisition of EKOS, a medical device company, and the EkoSonic medical device product,  in M&A news, is:

· Complementary transaction in line with BTG's strategy of growing its interventional medicine business;

· Significant addressable market opportunity in a growing treatment area;

· Differentiated technology protected by granted patents through 2022 with additional filings to 2030 and extensive manufacturing know-how;

· Potential revenue benefits from a shared customer base with BTG's Interventional Medicine and Specialty Pharmaceuticals field forces;

· Enhancement of the planned Varisolve® (PEM) vein clinic field force by accessing in-hospital interventional physicians and vascular surgeons who carry out varicose vein procedures through EKOS's existing sales force;

· Attractive financial impact with an estimated ROI in line with BTG's target for this type of acquisition of 15% to 20% in year five(3)

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