Boston Scientific (BSX) Announces Vertiflex Acquisition
Zacks Investment Research | Jun 11, 2019 09:32PM ET
Boston Scientific Corporation (NYSE:BSX) recently closed the acquisition of Vertiflex, Inc., a private company that manufactured and commercialized the Superion Indirect Decompression System. The acquisition, which was initiated on May 9, is part of Boston Scientific’s strategy of expanding the pain management portfolio.
The transaction has been valued at $465 million in upfront cash and additional payments contingent on commercial milestones for the next three years.
More About the Acquisition
The Superion Indirect Decompression System is a minimally-invasive device designed to enhance physical function and eradicate pain in patients suffering from lumbar spinal stenosis (LSS). The complication is the narrowing of spinal canal, which can result in compression of nearby nerves.
With this consolidation, the Superion Indirect Decompression System has been incorporated to the pain management portfolio of Boston Scientific, which already comprises spinal cord stimulation and radiofrequency ablation. The system is the only FDA-approved, commercially available and minimally-invasive interspinous spacer.
The addition of Vertiflex’s device to the pain management portfolio of Boston Scientific provides physicians with additional non-opioid pain management solutions that can improve the quality of lives of increasing number of chronic pain patients.
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