(Reuters) -Medical device maker Boston Scientific said on Tuesday it would buy private medical tech company Relievant Medsystems for an upfront cash payment of $850 million, in a bid to expand treatment options for chronic low back pain.
The transaction, which Boston Scientific expects to close in the first half of 2024, also includes undisclosed additional payments contingent on sales performance of Relievant over the next three years.
Relievant has developed medical device Intracept to treat patients with vertebrogenic pain — a form of chronic low back pain.
(Reporting by Pratik Jain in Bengaluru; Editing by Shilpi Majumdar)
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