Boston Scientific Closes Acquisition of Augmenix, Inc.

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Oct 16, 2018, 16:30 ET

MARLBOROUGH, Mass., Oct. 16, 2018 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of Augmenix, Inc., a privately-held company that developed and commercialized the SpaceOAR^® Hydrogel System to help reduce common and debilitating side effects that men may experience after receiving radiotherapy to treat prostate cancer. The biodegradable SpaceOAR hydrogel is injected between the rectum and prostate to decrease a patient's exposure to rectal radiation and thereby reduce rectal radiation injury – one of the most common complications of prostate radiotherapy.

"This close marks the third completed acquisition in 2018 for the company's Urology and Pelvic Health portfolio, further building upon our substantial momentum in this category," said Dave Pierce, executive vice president and president, MedSurg, Boston Scientific. "The addition of the SpaceOAR Hydrogel System, which has been used in over 30,000 patients worldwide and reviewed by more than 55 peer-reviewed publications, continues to strengthen our leadership in prostate health."

The addition of the SpaceOAR Hydrogel System reinforces the company's commitment to prostate health with a solution that addresses the need to protect healthy organs at risk (OAR) during prostate cancer radiotherapy. The SpaceOAR Hydrogel System will also expand the company's prostate health portfolio, which includes therapies to treat benign prostatic hyperplasia, including the Rezūm^® System, the GreenLight XPS^™ Laser Therapy System and holmium laser platforms.

Boston Scientific announced a definitive agreement to acquire Augmenix on September 6, 2018 for $500 million in up-front cash and up to $100 million for reaching sales-based milestones.

About Boston Scientific
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 35 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.

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SOURCE Boston Scientific Corporation