By Ben Glickman

Boston Scientific will acquire Axonics for about $3.7 billion in cash.

The companies said on Monday that Axonics had agreed to be bought for $71 a share. Boston Scientific said the deal gave Axonics an equity value of $3.7 billion and an enterprise value of $3.4 billion.

Axonics is developing medical technology focused on treating urinary and bowel issues.

Boston Scientific said the deal would add technologies to its portfolio to further serve urologists.

The deal is expected to close in the first half of 2024, subject to the approval of Axonics stockholders and the receipt of regulatory approvals.

Axonics will become a wholly-owned subsidiary of Boston Scientific.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 08, 2024 07:26 ET (12:26 GMT)

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