Boston Scientific to buy Minnesota prostate firm for up to $406M
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An aerial view of Boston Scientific's Marlborough campus. The company has announced its third acquisition so far this year.
Boston Scientific plans to buy a Minnesota firm making minimally invasive therapy for men with prostate issues in a deal valued at up to $406 million.
The purchase, which was announced Wednesday, includes a $306-million upfront payment and additional payments of as much as $100 million over the next four years, Boston Scientific said.
Marlborough-based Boston Scientific bought NxThera, a privately-held company that has developed and commercialized a product called Rezum, which is meant to help men with an enlarged-prostate condition called benign prostatic hyperplasia, or BPH. Boston Scientific was already a minority investor in the company.
BPH affects 110 million men worldwide with symptoms harming quality of life, including pain and frequent need to urinate. The chances of having BPH increase with age.
Boston Scientific said it expects to close on the sale in the second quarter.
The NxThera purchase marks the third announced already so far this year for Boston Scientific. In January, the company said it was paying $540 million for the California blood treatment company Millipede. Earlier this month it announced the purchase of the British company EMcision, which makes pancreatic cancer treatments, for an undisclosed price.
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