Boston Scientific Closes USD 500m Acquisition of US Medical Device Maker Augmenix.
MANews-(C)2009-2018
18 October 2018 - Massachusetts, US-based medical technology company Boston Scientific (NYSE: BSX) has closed the acquisition of Boston, US-based medical device company Augmenix, Inc., the company said.
The transaction consists of an upfront cash payment of USD 500m, and up to USD 100m for reaching sales-based milestones.
The SpaceOAR hydrogel is CE-Marked, cleared by the FDA and has been used in more than 30,000 patients worldwide.
As a result of commercial adoption, expanded US reimbursement and a total addressable market valued at USD 750m, product sales are estimated to reach USD 50m in 2018, and approach USD 90m in 2019.
Boston Scientific said the acquisition furthers its leadership strategy in urology and the SpaceOAR hydrogel is an addition to its growing prostate health treatment portfolio of products that improve the quality of life and clinical outcomes for men with prostate cancer and benign prostatic hyperplasia.
Augmenix, founded in 2008...
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