BTG Limited is an international specialist healthcare company that is developing and commercialising products targeting critical care, cancer and other disorders. The current name was adopted when the British Technology Group changed its name on 27 May 1998. BTG was a constituent of the

FTSE 250 Index The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, Septemb ...

until it was acquired by

Boston Scientific Boston Scientific Corporation ("BSC"), incorporated in Delaware, is a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices used in interventional medical specialties, including interventional radiology, in ...

in August 2019.

History

In 1948, the

National Research Development Corporation The National Research Development Corporation (NRDC) was a non-departmental government body established by the British Government to transfer technology from the public sector to the private sector. History The NRDC was established by Attlee's La ...

was formed with the purpose of commercialising innovations that arose from public funded

research Research is "creativity, creative and systematic work undertaken to increase the stock of knowledge". It involves the collection, organization and analysis of evidence to increase understanding of a topic, characterized by a particular att ...

. This was complemented in November 1975 by the establishment of the

National Enterprise Board The National Enterprise Board (NEB) was a United Kingdom government body. It was set up in 1975 by the Labour government of Harold Wilson, to support the government's interventionist approach to industry. In 1981 the Conservative government of Mar ...

to implement the then-Government's policy of moving public sector industry into commercial private enterprise. These two organisations were merged by the Government in 1981 to form a new, non-statutory body called the British Technology Group. It acted principally to license and commercialise the use of publicly funded developments. The Group was put onto a statutory footing in the British Technology Group Act 1991 with

HM Treasury His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and ec ...

initially being the only shareholder. Subsequently, in March 1992,

Cinven Cinven is a global private equity firm founded in 1977, with offices in nine international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and United States based corporat ...

arranged a

management buy-out A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Management-, and/or leveraged buyout became noted phenomena of 1 ...

from the Government. The company later floated on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

in 1995. Three years later, on 27 May 1998, the Group adopted its present name. It now focuses its work on developing and commercialising medical innovations. Since acquiring the commercialisation rights to

magnetic resonance imaging Magnetic resonance imaging (MRI) is a medical imaging technique used in radiology to form pictures of the anatomy and the physiological processes of the body. MRI scanners use strong magnetic fields, magnetic field gradients, and radio wave ...

(MRI) (under a revenue share scheme) in 1983, BTG has come to license a large part of the world market in MRI, including licensees such as

General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energ ...

and

Philips Koninklijke Philips N.V. (), commonly shortened to Philips, is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters i ...

. BTG plc completed the acquisition of Protherics PLC in December 2008 and of Biocompatibles International plc in January 2011. In May 2016 BTG plc acquired the Israeli company ''Galil Medical'' for US$110 million. In September 2018, BTG plc acquired Novate Medical for up to $150 million. In late November 2018

announced it would acquire BTG for $4.2 billion. The transaction was due to complete in August 2019.

Operations

BTG earns revenues from specialty pharmaceutical and interventional medicine product sales and on royalties from partnered products. It trades as BTG International Inc. in the United States and as BTG International Ltd. in the United Kingdom.

References

External links

BTG plc's website
{{DEFAULTSORT:Btg Health care companies of the United Kingdom Health care companies established in 1991 Companies based in the City of London British companies established in 1991 Companies listed on the London Stock Exchange Research and development in the United Kingdom 1991 establishments in England 2019 mergers and acquisitions Health care companies disestablished in 2019 2019 disestablishments in England

History

Operations

See also

References

External links