Boston Scientific sells Prolieve business to Medifocus
28 June 2012 17:05 in Medical Government/ NHS related news
Boston Scientific has announced the sale of its benign prostatic hyperplasia (BPH) treatment business Prolieve to Medifocus, the original creator of the system.
The sale has been valued at $5 million (3.22 million pounds) and will encompass all Prolieve inventory and Rocky Mountain Mobile Services mobile distribution assets, as well as the family of IP associated with the technology.
Prolieve utilises a combination of microwave heating and dilation of the prostatic urethra to offer immediate relief of symptoms of BPH, such as weak urinary stream and urgency.
An upfront fee of $2.5 million will be paid by Medifocus to Boston Scientific upon closure of the transaction, with the remainder of the purchase price contingent upon sales of the product.
The deal is expected to close within 30 days of the announcement and remains subject to standard conditions, such as the receipt of requisite regulatory approvals.
Earlier this month, Boston Scientific completed its takeover of Cameron Health, a move that will bolster its position in the cardiac rhythm management sector.
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