Boston Scientific Corporation has announced the close of its acquisition of Relievant Medsystems—the company behind the US Food and Drug Administration (FDA)-cleared Intracept intraosseous nerve ablation system, which is used to treat a form of chronic low back pain (CLBP) called vertebrogenic pain.
The Intracept system—a basivertebral nerve ablation therapy—will be an addition to Boston Scientific’s chronic pain portfolio that already includes spinal cord stimulation (SCS), radiofrequency ablation, and an interspinous spacer procedure. That is according to a Boston Scientific press release.
Relievant recently secured national coverage from Anthem Blue Cross Blue Shield and Humana, which are both effective now and expand access to the Intracept system for people living with vertebrogenic pain.
“The revolutionary therapy from Relievant has tremendous potential to help even more people living with chronic pain,” said Jim Cassidy, president, Neuromodulation, Boston Scientific. “The completion of this acquisition further differentiates our position in advanced interventional chronic pain, offering physicians the broadest selection of evidence-based treatment options that address multiple pain targets and change patients’ lives.”
The recent acquisition includes an upfront cash payment of US$850 million and undisclosed additional contingent payments based on sales performance over the next three years. On an adjusted basis, the transaction is expected to be immaterial to adjusted earnings per share in 2024, slightly accretive in 2025 and increasingly accretive thereafter. And, on a generally accepted accounting principles (GAAP) basis, the transaction is expected to be more dilutive due to amortisation expense and acquisition-related charges.
