Boston Scientific acquires Galway company Labcoat

HEALTHCARE and medical devices giant, Boston Scientific has &acquired Galway company, Labcoat Ltd for an undisclosed sum.

Boston employs around 5,000 people in its operations in Galway, Cork, Letterkenny and Clonmel. It has been working with Labcoat — a privately-owned Galway- based company, employing 30 people — for a number of years on various collaborations.

Boston said that the time was right to buy the company. This view was based on Labcoat developing a unique technology for coating the outer layers of stents with drugs, designed to reduce the amount of polymer and drug to which the patients’ vessel wall is exposed.