Boston Scientific to acquire nerve ablation tech developer Relievant Medsystems for $850M (MedDevice)
Boston Scientific(NYSE: BSX)+ announced today that it entered into a definitive agreement to acquire Relievant Medsystems.
The transaction includes an upfront cash payment of $850 million. Additional payments are contingent on sales performance over the next three years.
Minneapolis-based Relievant developed and commercialized the Intracept intraosseous nerve ablation system for chronic pain. The minimally invasive, FDA-cleared, same-day, outpatient procedure treats chronic vertebrogenic low back pain.
The procedure utilizes targeted radiofrequency energy to ablate the basivertebral nerve (BVN). This stops the nerve from transmitting pain signals to the brain. The procedure takes approximately one hour to perform.
″We anticipate this novel, clinically-backed technology can support our category leadership strategy while expanding access to care for individuals who need personalized treatment,″ said Jim Cassidy, president, Neuromodulation, Boston Scientific. ″Upon close, we look forward to working with the Relievant team to explore opportunities to bring this high...
