"Boston Scientific shares our commitment to transforming patient care, and has a sustained track record of innovation, clinical expertise and global commercial capabilities", commented Dame Louise Makin, Chief Executive Officer, BTG.
BTG's interventional medicine portfolio will boost Boston Scientific's offerings in areas like cancer and pulmonary embolism.
Following the announcement, shares of BTG on the London Stock Exchange rose more than 35 percent to 832 pence, their highest level since January 2015.
BTG specializes in interventional medicine, including several peripheral interventional product lines developed to target cancers of the kidneys, liver and other organs.
"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", Boston Scientific chairman and CEO Mike Mahoney said in a statement.
Industry experts agreed the offer looked reasonable and Jefferies analyst Peter Welford said BTG's eclectic product mix made a counterbid unlikely, despite past competition for interventional oncology products.
The deal is Boston Scientific's biggest since its 2006 acquisition of heart device maker Guidant Corp for $27 billion, which left the company laden with debt and dealing with a slew of Guidant product recalls. Boston Scientific said it would likely add two to three cents its adjusted earnings per share next year and more thereafter.
BTG develops and commercialises products which are used in procedures targeting cancer and vascular diseases.
Barclays and Shearman & Sterling are acting as financial and legal advisors on behalf of Boston Scientific.