Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of Vertiflex, Inc., a privately-held company that developed and commercialized the Superion® Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis (LSS) – the narrowing of the spinal canal, which can cause compression of nearby nerves.
| MARLBOROUGH, Mass., June 11, 2019 /PRNewswire/ --Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of VertiFlex Inc., a privately-held company that developed and commercialized the Superion® Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis (LSS) – the narrowing of the spinal canal, which can cause compression of nearby nerves. The acquisition of Vertiflex adds the only FDA-approved, commercially-available, minimally-invasive interspinous spacer to the industry-leading pain management portfolio from Boston Scientific, which also includes spinal cord stimulation and radiofrequency ablation. “The addition of the Vertiflex procedure to our pain management portfolio advances our pain category leadership strategy, while also providing physicians with additional non-opioid pain management solutions that can help improve the lives of the growing number of patients suffering from chronic pain,” said Maulik Nanavaty, president, Neuromodulation, Boston Scientific. As noted in the definitive agreement announcement, the transaction consists of $465 million in upfront cash and additional payments contingent on commercial milestones for the next three years. About Boston Scientific Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “intend” and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our business plans, regulatory approvals, product development and product performance and impact. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document. Use of Non-GAAP Financial Measures CONTACTS: Trish Backes Susie Lisa, CFA
SOURCE Boston Scientific Corporation | ||
Company Codes: NYSE:BSX |
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