Boston Scientific to acquire Relievant Medsystems in $850 million deal

On Tuesday, Boston Scientific announced its commitment to acquire Relievant Medsystems, Inc., a private medical technology company.

Relievant Medsystems, Inc. developed the Intracept® Intraosseous Nerve Ablation System, which works to treat chronic low back pain — an affliction that affects 5.3 million people in the U.S. daily, according to a news release from Boston Scientific.

The acquisition included an upfront payment of $850 million and unspecified payments based on sales performance over the next three years, the release added.

“We anticipate this novel, clinically-backed technology can support our category leadership strategy while expanding access to care for individuals who need personalized treatment. Upon close, we look forward to working with the Relievant team to explore opportunities to bring this high-growth therapy to a wider population of people living with chronic low back pain,” said Jim Cassidy, president, Neuromodulation, Boston Scientific.

Relievant is expected to produce an extra $70 million in sales in 2023 and deliver year-to-year growth in excess of 50% in 2024, officials from Boston Scientific say.

“Today is an exciting step forward to shaping the future of chronic low back pain with Boston Scientific as a leader in the interventional chronic pain space,″ said Tyler Binney, president and CEO of Relievant. ″This is a testament to the exceptionally talented Relievant team and the innovative engine behind the Intracept system. Together with Boston Scientific, we can accelerate our journey to provide life-changing relief to patients by transforming the diagnosis and treatment of vertebrogenic pain.″