Axonics to be Acquired by Boston Scientific in $3.7 Billion Deal

by Warren Seah

Axonics, a leading medical device maker, has recently announced that it will be acquired by Boston Scientific Corporation in a deal worth approximately $3.7 billion. This news has caused Axonics’ shares to rise sharply.

Acquisition Boosts Boston Scientific’s Urology Business

Boston Scientific’s acquisition of Axonics will greatly expand its portfolio in the urology business. Axonics is known for its impressive range of products designed to address bladder and bowel dysfunction, making it a valuable addition to Boston Scientific.

Positive Market Response

Following the announcement, Axonics’ stock experienced a significant surge of 22%, reaching $69.95 in premarket trading. Conversely, the shares of Boston Scientific remained steady.

Unanimous Approval and Expected Timeline

The boards of both companies have unanimously approved the acquisition. The deal is expected to be finalized in the first half of this year, at which point Axonics will become a wholly owned subsidiary of Boston Scientific.

Mixed Performance Among Other Medical Stocks

While Axonics and Boston Scientific enjoyed positive market reactions, other medical stocks saw mixed performance. Abbott Laboratories witnessed a 0.4% decrease, Medtronic PLC and Stryker remained unchanged, and Edwards Lifesciences experienced a 0.9% increase in premarket trading.

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