Boston Scientific Buys Cosman Medical To Expand Therapeutic Options

Boston Scientific Corporation BSX disclosed that it purchased the privately-held Cosman Medical, Inc., manufacturer of radiofrequency ablation (RFA) systems. Both the companies have not disclosed the specific terms of the acquisition. The listed firm expects the acquisition to expand therapeutic options for patients with chronic pain.

Boston Scientific said it expects the net impact of this transaction to be break-even in the current year. However, the transaction would be accretive to its adjusted EPS thereafter and more dilutive on a GAAP basis due to the acquisition-related net charges and amortization.

Its SVP and President, Neuromodulation, Maulik Nanavaty, commented, "This acquisition is a natural extension of our current product portfolio and will help us provide physicians and patients more options to address chronic pain with non-opioid therapeutic treatments. The addition of the Cosman Medical product line, which is built on industry-leading technology and known for its high-quality, expands our capability to provide innovative solutions for the treatment of chronic pain."

Boston Scientific indicated that the Medical team and products of Cosman would become part of its Neuromodulation business. That would enable the division to offer a range of Spinal Cord Stimulator (SCS) systems to treat patients with chronic pain, and Deep Brain Stimulation systems for the treatment of Parkinson's disease, dystonia and essential tremor.

The company indicated that one in three people suffer from chronic pain in the United States and over 100 million were either partly or totally disabled by pain.