Boston Scientific Corporation (NYSE: BSX) has successfully completed its acquisition of Axonics, Inc. (NASDAQ: AXNX), a medical technology company specializing in devices for urinary and bowel dysfunction. The acquisition saw Boston Scientific pay a purchase price of $71 cash per share, resulting in an equity value of $3.7 billion and an enterprise value of $3.3 billion.
Boston Scientific expects the acquisition to have a positive impact on its future earnings. Specifically, the company anticipates that the transaction will be immaterial to adjusted earnings per share in 2024 and 2025, but accretive thereafter. However, on a GAAP basis, the transaction is expected to be less accretive, or more dilutive, due to amortization expense and acquisition-related charges.
With the addition of Axonics' product portfolio, Boston Scientific aims to expand into sacral neuromodulation, a high-growth area for its urology business. This move allows Boston Scientific to offer a comprehensive range of products to patients worldwide, catering to their specific treatment needs based on their life stage and the severity of their condition.
The successful acquisition positions Boston Scientific as a global medical technology leader, enhancing its ability to address unmet patient needs and reduce healthcare costs. This acquisition is in line with Boston Scientific's commitment to advancing science for life by providing innovative medical technologies that improve patient health.
Today the company's shares have moved -0.7% to a price of $86.99. For the full picture, make sure to review Boston Scientific's 8-K report.
