Boston Scientific closes $465m Vertiflex buy

superadmin June 17, 2019 No Comments

Boston Scientific closes $465m Vertiflex buy

Boston Scientific (NYSE:BSX) said yesterday that it closed the $465 million buyout of spinal implant maker Vertiflex.

The deal, announced last month, includes commercial milestones spaced out over three years.

Carlsbad, Calif.-based Vertiflex makes the Superion decompression device for treating lumbar spinal stenosis, which won pre-market approval from the FDA in May 2015.

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Boston Scientific said it plans to integrate the orthopedics company, which employs about 100 people, into its pain management portfolio. Superion sales are slated to hit $60 million this year, Boston said when it announced the deal May 9.

“The addition of the Vertiflex procedure to our pain management portfolio advances our pain category leadership strategy, while also providing physicians with additional non-opioid pain management solutions that can help improve the lives of the growing number of patients suffering from chronic pain,” neuro modulation president Maulik Nanavaty said in prepared remarks.

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Marlborough, Mass.-based Boston Scientific has said it doesn’t expect the Vertiflex acquisition to affect adjusted earnings per share until after 2020.