Axonics Acquisition Seals Boston Scientific's Market Expansion

Deal News | Nov 15, 2024 | EIN

Axonics Acquisition Seals Boston Scientific's Market Expansion

Boston Scientific, a leading medtech giant based in Marlborough, Massachusetts, has finalized its acquisition of Axonics, Inc. for $3.7 billion. The acquisition deal, priced at $71 per share, enhances Boston Scientific's product lineup, particularly in urology and sacral neuromodulation (SNM) systems. Axonics is renowned for its innovative neuromodulation systems that treat urinary and bowel dysfunction. This strategic acquisition aligns with Boston Scientific's broader strategy to drive growth and innovation through mergers and acquisitions, reflecting its commitment to expand into high-growth markets and bolster its position in the medtech industry. The transition of leadership roles at Axonics and anticipated financial impacts on Boston Scientific, including accretion and dilution effects, underscore the significance of this deal in transforming and integrating Axonics into Boston Scientific's operational sphere.

Sectors

  • Medical Devices
  • Mergers and Acquisitions

Geography

  • United States – Both Boston Scientific and Axonics are US-based companies, with the former headquartered in Marlborough, Massachusetts.

Industry

  • Medical Devices – The acquisition between Boston Scientific and Axonics is rooted in the medical devices sector, focusing particularly on urology and neuromodulation systems.
  • Mergers and Acquisitions – This article centers around the acquisition transaction between Boston Scientific and Axonics, an exemplar of recent trends in M&A in the medtech industry.

Financials

  • $3.7 billion – The purchase price of the Axonics acquisition by Boston Scientific.
  • $366 million – Revenue reported by Axonics for 2023, reflecting a 34% increase over the previous year.

Participants

NameRoleTypeDescription
Boston ScientificBidding CompanyCompanyA leading global medical technology company specializing in innovative medical solutions.
Axonics, Inc.Target CompanyCompanyA company known for its neuromodulation systems, which treat urinary and bowel dysfunction.
Meghan ScanlonSenior Vice President and President of UrologyPersonBoston Scientific executive commenting on the acquisition.
Michael CohenFormer CEOPersonFormer CEO of Axonics, stepping down following the acquisition.