Boston Scientific closes $850M acquisition of back pain treatment tech firm
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Marlborough medical device and technology firm Boston Scientific has completed its acquisition of a Minnesota-based medical company and its chronic low back pain treatment technology.
Boston Scientific announced the planned acquisition of Relievant Medsystems in September, anticipating an early 2024 close on the transaction.
"The revolutionary therapy from Relievant has tremendous potential to help even more people living with chronic pain," Jim Cassidy, president of neuromodulation at Boston Scientific, said in a Friday press release. "The completion of this acquisition further differentiates our position in advanced interventional chronic pain, offering physicians the broadest selection of evidence-based treatment options that address multiple pain targets and change patients' lives."
The acquisition included an $850-million cash payment and undisclosed contingent payments based on sales performance. The transaction is expected to have an immaterial impact on share value for Boston Scientific.
The Relievant Medsystems technology uses a nerve ablation system to treat vertebrogenic pain, a form of chronic low back pain. Boston Scientific’s pain treatment portfolio additionally includes spinal cord stimulation, radiofrequency ablation and an interspinous spacer procedure. The Relievant technology is the only U.S. Food and Drug Administration-cleared treatment of its kind, according to the press release.
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