Boston Scientific to Acquire Vertiflex for up to $465 Million
Posted on May 09, 2019 by Medtech[y] Staff
Boston Scientific today announced they are acquiring Vertiflex for up to $465 million in upfront cash and additional payments which are contingent on milestones over the next three years. Vertiflex was founded in 2005 and is best known for their Superion Indirect Decompression System, which was approved in 2015 and is a minimally invasive device used to reduce pain and improve function for patients with lumbar spinal stenosis (LSS).
What is Vertiflex's Superion System?
Vertiflex's Superion System will join Boston Scientific's Neuromodulation division as the procedure is primarily performed by physicians who treat chronic pain patients with therapies including spinal cord stimulation and radiofrequency ablation.
"The acquisition of Vertiflex and the Superion System will further our category leadership strategy by expanding the breadth of our pain management product offerings," said Maulik Nanavaty, president, Neuromodulation, Boston Scientific. "The addition of this differentiated technology, along with our leading spinal cord stimulation and radiofrequency ablation technologies, will provide physicians with the widest variety of solutions available to manage the growing number of patients suffering from chronic pain."
Vertiflex is expected to reach $60 million in sales in 2019 and Boston Scientific expects the deal to be immaterial to adjusted earnings per share in 2019 and 2020.
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