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Boston Scientific shares in dramatic fall as the company plans to buy BTG

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Galway Bay fm newsroom – Boston Scientific shares have fallen the most in more than three years after the company said it would buy BTG for 3.7 billion euro
The medical device company is one of Galway’s biggest employers and has a combined workforce of over three thousand people in Galway, Cork and Clonmel.
The deal will give Boston Scientific new products for the treatment of cancer and other disorders, but it will add to the US company’s debt.
The shares in the company, which makes stents for the heart, fell as much as 11 per cent, the biggest intraday drop since August 2015.
However BTG’s shares surged a result of the deal, by as much as 35 per cent, a record gain allowing them to reach their highest level in almost four years in London trading.
BTG makes medical technology for doctors, such as cryoablation products to freeze and destroy diseased cells and radiotherapy that delivers radiation straight to tumors.
The company also makes medicines and antidotes against snake venom for emergency care.
Boston Scientific’s chief executive officer Michael Mahoney says the takeover of BTG will augment the company’s capabilities in important areas of unmet need such as cancer and harmful blood clots
The deal is expected to get the go ahead from BTG

Breaking News

Death announced of former Bishop of Galway

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Dr Martin Drennan.

The death has occurred of the former Bishop of Galway, Kilmacduagh and Kilfenora Martin Drennan, six years after he announced his retirement on health grounds. He was aged 78.

The Galway Diocesan Office confirmed the death this (Saturday) afternoon of the Bishop and Apostolic Administrator Emeritus, who oversaw the Diocese for eleven years.

Born on January 2, 1944 in Piltown, County Kilkenny, he studied for the priesthood at Saint Patrick’s College, Maynooth, from where he was ordained to the priesthood in 1968. His brother Michael is also a priest.

Following his ordination, he continued his studies in Rome where he was awarded a Licentiate in both sacred theology and sacred scripture. He returned to Rome in 1980 to become spiritual director at the Pontifical Irish College for the next five years.

He became a lecturer in sacred scripture at Saint Patrick’s College, Maynooth, where he continued to teach until his appointment as Auxiliary Bishop of Dublin in 1997 with responsibility for East Wicklow and South Dublin.

Following the retirement of Bishop James McLoughlin, Bishop Drennan was appointed Bishop of Galway and Kilmacduagh and Apostolic Administrator of Kilfenora and he was installed on July 3, 2005 in Galway Cathedral.

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Connacht Tribune

O’Flaherty’s promising start

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Outgoing Cllr Terry O’Flaherty (Ind) is on course to retain her City Council seat – and top the poll in City East. 

With 33% of the boxes tallied, Cllr O’Flaherty is polling strongly, particularly in Renmore. 

Michael John Crowe is ahead of his running mate Alan Cheevers for the Fianna Fáil vote, according to the early figures, although that could change when Doughiska and Roscam boxes are opened. 

The Green Party’s Claire Hillery is on about 7%, with Fine Gael on 10% and Sinn Fein on 5%.

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Connacht Tribune

Tallies underway as votes are sorted

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The opening of boxes for the local elections began at 9am this morning in Leisureland when the tallymen (and women) kicked into gear.

As regards the Galway County Council elections, the smaller areas are being opened first which means that the four-seater Connemara North boxes will be first in the pecking order.

It will be followed by Gort-Kinvara (5 seats), Connemara South (5 seats), Athenry-Oranmore (7 seats), Ballinasloe (6 seats), Loughrea (5 seats) and finally Tuam (7 seats).

The boxes in these areas will be opened and tallied in that particular order before being transferred to the Galway Lawn Tennis Club on Threadneedle Road where the counting will commence around mid-morning.

That is when the fun will really begin – although the tallies should give a good indication as to where most of the seats are destined.

As regards the city, the Galway City East boxes were opened first, followed by Galway City Central and finally Galway City West. These votes will be transferred to the Westside Centre by around 11am for counting.

There are 39 seats on Galway County Council to be filled with 18 on Galway City Council. The City Council count is expected to conclude on Saturday night but the County Council count – with seven electoral areas to be filled – could well go into Monday.

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