Boston Scientific (NYSE: BSX) has announced that it has entered into a definitive agreement to acquire Vertiflex, Inc., a privately-held company which has developed and commercialized the Superion® Indirect Decompression System,
Boston Scientific (NYSE: BSX) has announced that it has entered into a definitive agreement to acquire VertiFlex Inc., a privately-held company which has 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 procedure – primarily performed by physicians who treat chronic pain patients with therapies including spinal cord stimulation and radiofrequency ablation – is expected to reach $60 million in sales in 2019. As detailed in the company press release, the transaction consists of $465 million in upfront cash and additional payments contingent on commercial milestones for the next three years.
Latham & Watkins LLP represents Boston Scientific in the matter with Boston-based corporate team led by partner Julie Scallen with associates Stefanie Vincent and Jackson Mejia. Advice was also provided on antitrust matters by Washington, D.C. partner Mandy Reeves with counsel Patrick English and associate Barrett Tenbarge; on tax matters by Washington, D.C. partner Nicholas DeNoviowith associate Eli McCrain; and on benefits and compensation matters by Chicago partner Robin Struve with associate Leah Segall.
