Sam Brusco, Associate Editor09.19.23
Boston Scientific has begun a deal to acquire Relievant Medsystems, a company known for the Intracept intraosseous nerve ablation system to treat vertebrogenic pain, a form of chronic low back pain.
The transaction consists of an $850 million, upfront cash payment with undisclosed further contingent payments based on sales performance over the next three years.
The Intracept procedure—a minimally invasive, implant-free outpatient procedure—is the only FDA-cleared system for vertebrogenic pain. It uses targeted radiofrequency energy to stop the basivertebral nerve from sending pain signals to the brain, and is designed to boost function and offer long-term relief.
″We anticipate this novel, clinically-backed technology can support our category leadership strategy while expanding access to care for individuals who need personalized treatment,″ Jim Cassidy, president, Neuromodulation, Boston Scientific told the press. ″Upon close, we look forward to working with the Relievant team to explore opportunities to bring this high-growth therapy to a wider population of people living with chronic low back pain.″
Boston Scientific said it anticipates the transaction to be closed in the first half of 2024. Relievant is expected to accrue sales of over $70 million in 2023 and exhibit year-over-year growth of over 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.″
The transaction consists of an $850 million, upfront cash payment with undisclosed further contingent payments based on sales performance over the next three years.
The Intracept procedure—a minimally invasive, implant-free outpatient procedure—is the only FDA-cleared system for vertebrogenic pain. It uses targeted radiofrequency energy to stop the basivertebral nerve from sending pain signals to the brain, and is designed to boost function and offer long-term relief.
″We anticipate this novel, clinically-backed technology can support our category leadership strategy while expanding access to care for individuals who need personalized treatment,″ Jim Cassidy, president, Neuromodulation, Boston Scientific told the press. ″Upon close, we look forward to working with the Relievant team to explore opportunities to bring this high-growth therapy to a wider population of people living with chronic low back pain.″
Boston Scientific said it anticipates the transaction to be closed in the first half of 2024. Relievant is expected to accrue sales of over $70 million in 2023 and exhibit year-over-year growth of over 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.″