Boston Scientific acquires nVision Medical for up to $275 million

Boston Scientific announced Monday the acquisition of nVision Medical for $150 million in cash, in addition to $125 million in potential milestone payments. According to Boston Scientific, nVision has developed the only FDA-cleared device to collect cells from the fallopian tubes, "offering a potential platform for earlier diagnosis of ovarian cancer."

Dave Pierce, president of Boston Scientific's MedSurg division, remarked "we estimate the near-term market opportunity to be $500 million with the potential to grow to $2 billion as this device is used by more gynaecologists to help even more women." Pierce noted that Boston Scientific is committed to expanding its women's health portfolio, adding that "the diagnosis of ovarian cancer is a massive unmet need in this space."

Boston Scientific further noted that initial clinical research has shown that the nVision device effectively collects cells from the fallopian tubes that correlate with an ovarian cancer diagnosis, adding that the company intends to conduct additional research to further establish how these cells can be used to make a diagnosis prior to surgery in women at increased risk for ovarian cancer. Ian Meredith, Boston Scientific's global chief medical officer, said the technology will also serve "as a foundation for our broader oncology initiatives in both diagnostics and therapeutics."

Boston Scientific indicated that the acquisition is expected to be immaterial in 2018 and 2019, on an adjusted basis, and accretive thereafter.

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