Boston Scientific to Buy Axonics for $3.7 Billion

Boston Scientific has begun a deal to acquire Axonics. With a purchase price of $71 per share, the deal has an equity value of about $3.7 billion.
 
Axonics focuses primarily on devices to treat urinary and bowel dysfunction. The company’s portfolio includes the Axonics R20 and R15 systems, which deliver sacral neuromodulation therapy (SNM). SNM therapy treats overactive bladder (OAB) and fecal incontinence by delivering mild electrical pulses to the sacral nerve to restore communication between the brain and bladded.
 
The company said Axonics therapy showed “meaningful improvement” in quality of life in follow-up out to two years.
 
“We are excited to add Axonics technologies to the Boston Scientific portfolio, a combination that we expect will further strengthen our ability to serve urologists who are treating patients living with these often-chronic conditions,” said Meghan Scanlon, senior VP and president, Urology, Boston Scientific. “This acquisition also enables our entry into sacral neuromodulation, a high-growth adjacency with opportunities to expand access to care for patients.”
 
In January 2023, Axonics earned U.S. Food and Drug Administration (FDA) approval for its fourth-generation R20 neurostimulator. R20 is rechargeable and has a battery life of 20+ years. The company’s portfolio also includes the Bulkamid urethral bulking system to treat female stress urinary incontinence.
 
Axonics expects net revenue of about $366 million in 2023. Boston Scientific expects the transaction to be completed in H1 2024.