Boston Scientific (NYSE:BSX) said today that closed the $406 million acquisition of NxThera and its Rezūm benign prostatic hyperplasia device, which uses steam to ablate excess prostate tissue.
The deal called for $306 million in up-front cash from Marlborough, Mass.-based Boston Scientific, with another $100 million in potential milestones over the next four years. Boston, which in December 2015 led a $40 million funding round for NxThera, said the existing investment means it will have to put $240 million down and another $85 million on the table in milestones. NxThera is based in Maple Grove, Minn. When Boston Scientific paid $1.6 billion to Endo (NSDQ:ENDP) for the urology portfolio Endo had acquired from American Medical Systems, it also inherited an earlier investment in NxThera by AMS.
“We are confident in the potential for this system to help patients with BPH and increase the number of men choosing MITs, because it offers long-term relief from symptoms without the side effects of medications,” medsurg president Dave Pierce said in prepared remarks. “The minimally invasive therapy segment is the fastest growing category in the treatment of BPH and, as an office-based procedure, the Rezūm system is appealing to patients, clinicians and payers.”
The deal involves plans to spin-out a new company to commercialize technology for treating cancer, NxThera CEO Bob Paulson…

Source: Mass DeviceCategory: Medical Devices Authors: Tags: Mergers & Acquisitions Urology Wall Street Beat Boston Scientific NxThera Inc. Source Type: news

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Updated to include commentary from NxThera prez &CEO Bob Paulson.
Boston Scientific (NYSE:BSX) said today that it laid out a $406 million deal for NxThera and its Rezūm benign prostatic hyperplasia device, which uses steam to ablate excess prostate tissue.
The deal calls for $306 million in up-front cash from Marlborough, Mass.-based Boston Scientific, with another $100 million in potential milestones over the next four years. Boston, which in December 2015 led a $40 million funding round for NxThera, said the existing investment means it will have to put $240 million down and another $85…

Source: Mass DeviceCategory: Medical Devices Authors: Tags: Mergers & Acquisitions Urology Wall Street Beat Boston Scientific NxThera Inc. Source Type: news





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