Boston Scientific Scores March M&A Double Whammy With NxThera
In its second acquisition deal this month, Boston Scientific has agreed to pay up to $406m for NxThera, maker of the Rezῡm system for treating benign prostatic hyperplasia.
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Device fundraising in the first quarter totaled $7.6 billion, thanks to Siemens Healthineers $5.2 billion IPO, which accounted for more than two-thirds of the total. Q1 M&A activity reached $6.7 billion, a significant rise from Q4's $3.9 billion. Similarly, aggregate first quarter diagnostics financings (at $1.5 billion) and M&As (at $543 million) also experienced substantial increases over the previous quarter.
Medtech Insight recorded 17 merger or acquisition deals in March, a rise from the nine deals recorded last month and in the same period last year. It was a busy month for Boston Scientific, which racked up two acquisitions, paying $460m for urology device maker NxThera and an undisclosed price for endoscopy firm EMcision.
Minimally invasive glaucoma surgery specialist Glaukos saw its stock leap 40% in the wake of a worldwide recall by much bigger rival Alcon of its CyPass microstent.