Boston Scientific & #039;s Aggressive M & amp;A Strategy Continues with Augmenix Deal

Tuck-in acquisitions continue to play a key role in Boston Scientific's strategy this year, as evidenced by the company's latest deal, which also happens to be its largest so far in 2018.  The Marlborough, MA-based company has agreed to pay $500 million upfront and up to $100 million for sales-based milestones to acquire Augmenix. This private company is based in Bedford, MA and has developed a product called SpaceOAR, which intended to reduce common and debilitating side effects for men who undergo prostate cancer radiotherapy. Not only is Augmenix the eighth acquisition Boston Scientific has reported this year, it is the company's third acquisition in the urology and pelvic health space. The company aims to be category leaders in each space it participates in, says Dave Pierce, president of the MedSurg business at Boston Scientific. In urology and pelvic health that leadership position is maintained through both internal innovation and M&A, he said. "We're constantly scanning the horizon for anything from within our space and adjacent to our space that would be complementary and enhance our category leadership. Augmenix falls into that category," Pierce told MD+DI. There are other companies in the urology and pelvic health space that Boston Scientific is also following, he noted. The SpaceOAR hydrogel is injected prior to radiation therapy to create additional space between the rectum and prostate during treatment, thereby reducing rectal radiation dose and ...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news