Boston Scientific acquires NVision Medical in $275m deal

Boston Scientific (NYSE:BSX) said today it inked a $275 million deal to acquire women’s health-focused NVision Medical, which produces an FDA-cleared device designed to collect cells from fallopian tubes as an early diagnosis of ovarian cancer. In the deal, Boston Scientific will pay $150 million up front with an additional $125 million in possible milestone payments over four years. The company said it expects the acquisition to be immaterial on an adjusted basis in 2018 and 2019, and accretive after. “We estimate the near-term market opportunity to be $500 million with the potential to grow to $2 billion as this device is used by more gynecologists to help even more women. We are committed to expanding our women’s health portfolio and driving clinical research that will help deliver innovative options for the prevention and treatment of gynecological cancer,” Boston Scientific MedSurg prez Dave Pierce said in a prepared statement. Initial studies of NVision’s screening device found that the cells it collected, when tested, correlated with post-surgery definitive diagnoses of ovarian cancer, Marlborough, Mass.-based Boston Scientific said. Boston Scientific said it plans to conduct additional research with the nVision device to explore how cells it collects from the fallopian tubes can be used to produce diagnoses prior to surgery to aid in decision making for women with increased risk of ovarian cancer. “We are excited to develop th...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Mergers & Acquisitions Oncology Women's Health Boston Scientific NVision Source Type: news