(May '18) Boston Scientific Closes on Potential $406M Acquisition

Marlborough medical device giant Boston Scientific has closed on a potential $406 million acquisition of a Minnesota firm developing a minimally invasive therapy for men with prostate issues.

The agreement, announced in March, has Boston Scientific giving NxThera an upfront payment of $306 million, and additional payments of up to $100 million could come in the next four years if certain milestones are met.

With the completion of the acquisition Monday, NxThera will become part of Boston Scientific's urology and pelvic health business.

In 2018 alone, Boston Scientific's aggressive acquisition strategy - including merger agreements with two other companies - could have Boston Scientific's potential acquisition costs nearing $1 billion.

In a statement, Dave Pierce, executive vice president and president of MedSurg at Boston Scientific, said NxThera's Rezūm system can help patients with benign prostatic hyperplasia (BPH) without the side effects of medication.

"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," Pierce said.