Boston Scientific closes Relievant Medsystems acquisition

Boston Scientific has closed its acquisition of Relievant Medsystems, a company that offers the Food and Drug Administration-cleared Intracept Intraosseous Nerve Ablation System, a therapy to treat vertebrogenic pain that is a form of chronic low back pain.

The Intracept system, a basivertebral nerve ablation therapy, will be an addition to the Boston Scientific chronic pain portfolio that includes spinal cord stimulation, radiofrequency ablation and an interspinous spacer procedure.

Jim Cassidy, president, neuromodulation, Boston Scientific, said: "The revolutionary therapy from Relievant has tremendous potential to help even more people living with chronic pain. The completion of this acquisition further differentiates our position in advanced interventional chronic pain, offering physicians the broadest selection of evidence-based treatment options that address multiple pain targets and change patients' lives."

The acquisition includes an upfront cash payment of $850 million and undisclosed additional contingent payments based on sales performance over the next three years. On an adjusted basis, the transaction is expected to be immaterial to adjusted earnings per share in 2024, slightly accretive in 2025 and increasingly accretive thereafter. On a GAAP basis, the transaction is expected to be more dilutive due to amortisation expense and acquisition-related charges.