Boston Scientific Corporation has entered into an agreement to acquire Nalu Medical, Inc. for approximately $533 million to expand its neuromodulation solutions for chronic pain management.

Target Overview

Boston Scientific Corporation (NYSE: BSX), based in Marlborough, Massachusetts, has announced a definitive agreement to acquire Nalu Medical, Inc. This privately held medical technology company specializes in developing and commercializing innovative, minimally invasive solutions aimed at addressing chronic pain. Boston Scientific has been a strategic investor in Nalu Medical since 2017 and is set to purchase the remaining equity for approximately $533 million.

Industry Overview in the U.S.

The neuromodulation industry in the United States has experienced significant growth due to an increasing awareness of chronic pain management and technological advancements in medical devices. Neuromodulation therapies, including peripheral nerve stimulation (PNS), have become essential alternatives for patients suffering from intractable pain where traditional treatments fall short. The demand for effective chronic pain solutions is driven by an aging population and the rising incidence of chronic pain conditions such as neuropathic pain.

According to market analyses, the neuromodulation market is expected to witness considerable expansion, valued at several billion dollars in the upcoming years. The need for innovative, less invasive pain management options aligns with broader healthcare trends focused on improving patient outcomes and reducing healthcare costs. This competitive landscape offers ample opportunities for companies bringing novel technologies to market.

Additionally, legislative efforts in the U.S. have expanded coverage for neuromodulation therapies, thus fostering a favorable regulatory environment for new devices. Companies are encouraged to invest in research and development to capitalize on the growing demand for effective pain management solutions.

Rationale Behind the Deal

The acquisition of Nalu Medical is strategically important for Boston Scientific as it enhances their existing portfolio of pain management therapies, which includes spinal cord stimulation and radiofrequency ablation. The Nalu Neurostimulation System is particularly well-positioned to address an unmet need in the pain management sector by delivering targeted relief through PNS technologies. This complementarity between Nalu’s offerings and Boston Scientific's current products enables comprehensive solutions for a wider range of patient populations.

Moreover, Nalu Medical's innovative technology has demonstrated promising clinical outcomes in trials, showcasing its potential to provide significant

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Boston Scientific Corporation

invested in

Nalu Medical, Inc.

in 2025

in a Merger deal

Disclosed details

Transaction Size: $600M

Revenue: $60M

Equity Value: $533M


Multiples

P/Revenue: 8.9x

Deal Parametres
Industry
Country
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