Boston Scientific To Buy Vertiflex - Quick Facts

(RTTNews) - Boston Scientific (BSX) has reached a definitive agreement to acquire Vertiflex, Inc., in a transaction that consists of $465 million in upfront cash and additional payments contingent on commercial milestones for the next three years.

Vertiflex, Inc., based in Carlsbad, CA, has commercialized the Superion Indirect Decompression System, a minimally-invasive device used to reduce pain in patients with lumbar spinal stenosis. The Superion System was approved by the U.S. FDA in 2015 for patients with moderate degenerative lumbar spinal stenosis.

Boston Scientific projects the acquisition to be immaterial to adjusted earnings per share in 2019 and 2020, and accretive thereafter. The acquisition is expected to close late in the second quarter of 2019.