BSX to acquire clinical-stage medical device firm for $65M
Natick-based pharmaceutical company Boston Scientific Corp. (BSX) announced it will acquire IoGyn Inc, a clinical-stage company that has received FDA approval on a system designed to treat uterine fibroids and polyps.
BSX said in a statement Wednesday that the sale is expected to close “within days.” IoGyn’s system, known as the Symphion System, “broadens the Boston Scientific portfolio of minimally invasive approaches for surgeons to treat debilitating gynecologic conditions that affect millions of women worldwide,” BSX said.
According to BSX, fibroid and polyps are benign growths that sometimes become symptomatic, and therefore require treatment. The company said the technology is less invasive and typically safer than common surgical approaches to treating fibroids and polyps, like hysterectomy, and is designed to preserve fertility.
BSX said it had a 28-percent stake in IoGyn prior to the acquisition, and paid $65 million to acquire the remaining 72 percent of the company. The purchase is expected to be accretive in 2016.
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