Boston Scientific is set to acquire Valencia Technologies, a California-based company developing and commercializing treatments for bladder dysfunction.
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Boston Scientific has rang in the new year by announcing the Marlborough-based medical device manufacturer is set to acquire Valencia Technologies, a California-based company developing and commercializing treatments for bladder dysfunction.
With the acquisition, Boston Scientific will gain ownership of Valencia Technologies’ eCoin System, an implantable device to treat urinary incontinence, which is the sudden, strong urge to urinate caused by overactive bladder.
The coin-sized device, implanted near the ankle, works by stimulating the tibial nerve, which runs down the back of the leg to the foot, to help modulate the brain’s communication with the bladder, according to a Monday press release from Boston Scientific.
Boston Scientific has not disclosed the financial terms of the transaction, including the acquisition cost, Nate Gilbraith, media relations for Boston Scientific, wrote in an email to WBJ.
"The addition of the eCoin system to the Boston Scientific portfolio will enable us to expand into implantable tibial nerve stimulation, a high-growth adjacency for our urology business," Meghan Scanlon, Boston Scientific's senior vice president and president, urology, said in the release. "ITNS technology complements our existing pelvic health product line, and we look forward to offering a more comprehensive set of treatment options to patients across the care continuum."
In clinical trials, 68% of eCoin System patients reported at least a 50% decrease in urge urinary incontinence symptoms, according to the release. The system gained U.S. Food and Drug Administration approval in 2022
Pending customary closing conditions, the acquisition is expected to be finalized in the first half of this year.
Boston Scientific’s most recent purchase agreement comes after the manufacturer announced in October it would acquire Nalu Medical, another California-based medtech firm, for approximately $533 million.
With 2,800 local employees, Boston Scientific is the largest life sciences and biotech company in Central Massachusetts, according to data collected by WBJ’s Research Department. Founded in 1979, the firm generates $17 billion in annual revenue.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
