Boston Scientific (Massachusetts) has announced the acquisition of Augmenix, Inc. for $600m. As part of the agreement, Boston Scientific will pay Augmenix an upfront $500m, plus an additional $100m subject to fulfillment of precise milestones.
Augmenix is headquartered in Bedford, Massachusetts, and has 140 employees. Its leading brand is SpaceOAR® System, a moderately invasive hydrogel for patients with prostate cancer who have undergone radiotherapy. SpaceOAR has been used by over 30,000 patients globally and will generate at least $50m in 2018 and $90m in 2019.
Boston Scientific’s shares are among the most active ones in Wall Street, with YTD earnings exceeding 44%, which has taken capitalization to $50bn with a P/E ratio of 95.
(Source: Boston Scientific)