Boston Scientific entered into a definitive agreement to acquire Relievant Medsystems, developer of the Intracept Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain. The transaction includes an upfront cash payment of $850 million and undisclosed additional contingent payments based on sales performance over the next three years.
Intracept is a minimally invasive, implant-free outpatient procedure. The therapy uses targeted radiofrequency energy to stop the basivertebral nerve from transmitting pain signals to the brain, and is designed to improve function and provide long-term relief.
Boston Scientific expects to close the transaction in 1H24. Relievant is expected to generate sales in excess of $70 million in 2023 and deliver year-over-year growth in excess of 50% in 2024.
“Today is an exciting step forward to shaping the future of chronic low back pain with Boston Scientific as a leader in the interventional chronic pain space,″ said Tyler Binney, President and CEO of Relievant. ″This is a testament to the exceptionally talented Relievant team and the innovative engine behind the Intracept system. Together with Boston Scientific, we can accelerate our journey to provide life-changing relief to patients by transforming the diagnosis and treatment of vertebrogenic pain.″
Boston Scientific entered into a definitive agreement to acquire Relievant Medsystems, developer of the Intracept Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain. The transaction includes an upfront cash payment of $850 million and undisclosed additional contingent payments based on sales...
Boston Scientific entered into a definitive agreement to acquire Relievant Medsystems, developer of the Intracept Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain. The transaction includes an upfront cash payment of $850 million and undisclosed additional contingent payments based on sales performance over the next three years.
Intracept is a minimally invasive, implant-free outpatient procedure. The therapy uses targeted radiofrequency energy to stop the basivertebral nerve from transmitting pain signals to the brain, and is designed to improve function and provide long-term relief.
Boston Scientific expects to close the transaction in 1H24. Relievant is expected to generate sales in excess of $70 million in 2023 and deliver year-over-year growth in excess of 50% in 2024.
“Today is an exciting step forward to shaping the future of chronic low back pain with Boston Scientific as a leader in the interventional chronic pain space,″ said Tyler Binney, President and CEO of Relievant. ″This is a testament to the exceptionally talented Relievant team and the innovative engine behind the Intracept system. Together with Boston Scientific, we can accelerate our journey to provide life-changing relief to patients by transforming the diagnosis and treatment of vertebrogenic pain.″
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