Sector News

Boston Scientific agrees to buy privately held Augmenix for $500 million

September 7, 2018
Life sciences

Boston Scientific Corp. said late Thursday it has agreed to buy privately held Augmenix Inc. for $500 million in cash and up to an additional $100 million for reaching sales milestones.

Augmenix has developed a therapy to reduce side effects related to prostate-cancer radiotherapy. Sales of the therapy are expected to reach $50 million this year and about $90 million in 2019, Boston Scientific said.

The deal is expected to close early in the fourth quarter, subject to customary closing conditions, and to be immaterial to adjusted per-share earnings this year and the next and accretive by 2020.

Shares of Boston Scientific rose 0.2% in the extended session after ending the regular trading day up 0.7%.

By Claudia Assis

Source: MarketWatch

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