Boston Scientific Corp. closed its acquisition of privately held healthcare equipment company Augmenix Inc. for $500 million in cash up front plus up to $100 million in sales-based milestone payments.
Augmenix develops and markets the SpaceOAR Hydrogel System, a medical device that reduces side effects from radiotherapy in the treatment of prostate cancer.
Dave Pierce, executive vice president and president of Boston Scientific's MedSurg segment, said in the company's Oct. 16 news release that Augmenix's acquisition was the third acquisition in 2018 that bolsters its urology and pelvic health portfolio.
Boston Scientific said that the SpaceOAR Hydrogel System will expand its prostate health portfolio. This includes therapies to treat a type of prostate enlargement, including the Rezūm System, the GreenLight XPS Laser Therapy System and holmium laser platforms.
Marlborough, Mass.-based Boston Scientific develops and markets medical devices for use in various interventional medical specialties worldwide.