Boston Scientific raises $2.2B to support purchase of California medical device company
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Marlborough medical device manufacturer Boston Scientific has raised $2.17 billion off a public offering of notes to support its purchase of a California company specializing in medical equipment meant to improve the quality of life of those who are suffering from bladder and bowel dysfunction.
The offering of notes was done through American Medical Systems Europe B.V, a Netherlands-based wholly owned subsidiary of Boston Scientific, according to a press release issued Tuesday. The notes will be admitted to Euronext Dublin, Ireland’s main stock exchange, and will be traded on Euronext’s Global Exchange Market, a specialist debt market utilized by professional investors.
The primary use of the funds will be used to fund Boston Scientific’s purchase of Axonics, Inc., a $3.7-billion transaction the company announced in January.
Axonics is a publicly traded company specializing in a device utilizing sacral neuromodulation therapy, a minimally invasive procedure using mild electrical pulses to treat bladder and bowel conditions. Boston Scientific expects its purchase of Axonics to be completed sometime in the first half of 2024.
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