Boston Scientific to Buy Relievant Medsystems for Initial $800 Million
19 September 2023 - 1:45PM
Dow Jones News
By Colin Kellaher
Boston Scientific has agreed to acquire smaller
medical-technology company Relievant Medsystems for an initial $850
million in cash in a deal that expands its portfolio of treatments
for chronic low back pain.
Boston Scientific on Tuesday said Relievant's Intracept
intraosseous nerve ablation system is approved by the U.S. Food and
Drug Administration to treat vertebrogenic pain, a form of chronic
low back pain.
Boston Scientific said Relievant expects to generate sales of
more than $70 million this year, with sales growth topping 50% in
2024.
The Marlborough, Mass., company said it expects to complete the
acquisition in the first half of 2024, adding that the deal carries
undisclosed additional contingent payments based on Relievant's
sales performance over the next three years.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 19, 2023 07:30 ET (11:30 GMT)
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