Boston Scientific completes $3.7B purchase of California bowel dysfunction company
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Boston Scientific, a Marlborough medical device manufacturer, has officially closed its acquisition of Axonics Inc. after entering into a purchase agreement in January.
Axonics, a publicly traded California-based medical technology firm specializing in devices used to treat urinary and bowel dysfunction, was acquired at $71 cash per share totalling $3.7 billion with an enterprise value of $3.3 billion, according to a Friday press release from Boston Scientific.
“Over the last decade, it has been impressive to see the meaningful innovations Axonics has delivered for patients with overactive bladder and incontinence,” Meghan Scanlon, senior vice president and president, urology at Boston Scientific, said in the release “The addition of the Axonics product portfolio enables us to expand into sacral neuromodulation, a high-growth adjacency for our Urology business, while bringing a comprehensive portfolio of products to patients around the world who are seeking tailored treatment options based on their life stage and incontinence severity.”
Axonics’ products include implant devices utilizing sacral neuromodulation therapy in which the nerves that control the bladder and bowel are treated with gentle electrical stimulations, according to the company’s website. Axonics products are used to treat overactive bladder, bowel incontinence, and urinary retention.
The transaction is not expected to impact adjusted earnings per share in 2024 or 2025 and will gradually increase after.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries
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