Skip to content

Boston Scientific to Acquire Axonics for $3.7 Billion

 | 

Boston Scientific Corporation (“Boston Scientific”) announced on January 8 that it has entered into a definitive agreement to acquire Axonics, Inc. (“Axonics”) for an equity value of approximately $3.7 billion.  The timing of the announcement coincided with the start of the 42nd Annual J.P. Morgan Healthcare Conference in San Francisco, which also saw the announcement of major acquisitions by large players in the pharmaceutical space.

Meghan Scanlon, President of Boston Scientific Urology, commented: “This acquisition also enables our entry into sacral neuromodulation, a high-growth adjacency with opportunities to expand access to care for patients.”

According to the corresponding press release from Axonics, Axonics has “pioneered and introduced significant enhancements to sacral neuromodulation therapy for bladder and bowel dysfunction and urethral bulking for women with stress urinary incontinence, both of which are among the fastest growing segments in urology.”

Raymond W. Cohen, CEO of Axonics, stated: “Our team is looking forward to the global impact we can make as part of Boston Scientific as we endeavor to bring these life-changing therapies to more patients than ever before.”

The deal is expected to close in the first half of 2024.  Axonics expects a total company net revenue of about $366 million in 2023.

Axonics is currently in litigation with Medtronic.  Medtronic sued Axonics in a federal court in California in 2019, alleging infringement of seven patents.  The litigation has been stayed pending the outcome of continued IPR proceedings at the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office.

Tags

, , , , , ,

Boston Scientific to Acquire Axonics for $3.7 Billion Headshot

Michael R. Christensen

Boston Scientific Corporation (“Boston Scientific”) announced on January 8 that it has entered into a definitive agreement to acquire Axonics, Inc. (“Axonics”) for an equity value of approximately $3.7 billion. ...

View all posts published by Michael R. Christensen
By using this blog, you agree and understand that no information is being provided in the context of any attorney-client relationship. You further agree and understand that nothing herein is intended to be legal advice. This blog is solely informational in nature, and is not intended as, and should not be used as, a substitute for competent legal advice from a retained and licensed attorney in your state. Knobbe Martens LLP makes no representations or warranties as to the accuracy, completeness, timeliness or availability of the information in this blog. Knobbe Martens LLP will not be liable for any injury or damages relating to your use of, or access to, any such information. Knobbe Martens LLP undertakes no obligation to correct or update information on this blog, which may be incorrect or become incorrect or out of date over time. Knobbe Martens LLP reserves the right to alter or delete content or information on the blog at any time. This blog contains links and references to other websites and publications that you may find of interest. Knobbe Martens LLP does not control, promote, endorse or otherwise have any affiliation with any other websites or publications unless those websites or publications expressly state such an affiliation. Knobbe Martens LLP further has no responsibility for, and makes no representations regarding, the content, accuracy or any other aspect of the information in such websites or publications.
close modal