Medical Device Maker Boston Scientific to Buy Axonics for $3.7 Billion
- January 12, 2024
Boston Scientific Corp. is looking to expand its urology portfolio with a definitive agreement to acquire medical technology firm Axonics Inc., which develops differentiated devices to treat urinary and bowel dysfunction, in a deal valued at roughly $3.7 billion, according to a January 8 announcement.
Under the terms of the deal, Boston Scientific will acquire Axonics for $71 in cash per share. Axonics’ product portfolio includes devices that deliver mild electrical pulses to treat overactive bladder and fecal incontinence, conditions that afflict millions of adults.
"We are excited to add Axonics technologies to the Boston Scientific portfolio, a combination that we expect will further strengthen our ability to serve urologists who are treating patients living with these often-chronic conditions," said Meghan Scanlon, senior vice president and president, Urology, Boston Scientific.
The transaction is expected to close in the first half of 2024 subject to customary closing conditions.