Boston Scientific acquisition of Vertiflex : US medical devices manufacturer Boston Scientific has agreed to acquire Vertiflex, a California-based manufacturer of spinal medical devices, for $465 million.
Vertiflex has a minimally-invasive device called Superion Indirect Decompression System, which has been designed to enhance physical function and reduce pain in patients with lumbar spinal stenosis (LSS).
The Superion System was approved by the US Food and Drug Administration (FDA) in 2015 for the treatment of patients with moderate degenerative LSS. The device creates a gap between the spinous processes of the vertebrae to lessen the pressure on the nerves and thereby improving patient’s mobility and reducing pain, numbness, and cramping in the legs.
The procedure with Superion System is a treatment option in patients who did not positively respond to oral pain medication and steroid injections and other first-line therapies and have no severe symptoms that need spinal fusion or laminectomy.
Earl Fender – president and CEO of Vertiflex, commenting on Boston Scientific acquisition of Vertiflex, said: “Five-year clinical data and real-world experience with the Superion System demonstrate that this minimally invasive and reversable procedure – done without destabilizing the spine – can offer patients safe, long-term pain relief with a relatively rapid recovery time.
“We are proud of the clinical and commercial successes we’ve been able to achieve and look forward to continued adoption of the therapy with the global resources and clinical expertise of the Boston Scientific pain management franchise.”
Treatment of LSS using the Superion device is mainly undertaken by physicians who treat patients with chronic pain with therapies such as spinal cord stimulation and radiofrequency ablation. Boston Scientific expects sales of the Superion Indirect Decompression System to be $60 million in 2019.
Boston Scientific has also agreed to make additional payments based on commercial milestones achieved in the next three years.
Commenting on Boston Scientific acquisition of Vertiflex, Maulik Nanavaty – president, Neuromodulation, Boston Scientific, said: “The acquisition of Vertiflex and the Superion System will further our category leadership strategy by expanding the breadth of our pain management product offerings.
“The addition of this differentiated technology, along with our leading spinal cord stimulation and radiofrequency ablation technologies, will provide physicians with the widest variety of solutions available to manage the growing number of patients suffering from chronic pain.”
Boston Scientific acquisition of Vertiflex is expected to be wrapped up in late Q2 2019 depending on the meeting of customary closing conditions.