(AOF) – American medical equipment giant Boston Scientific announced the acquisition of Axonics, a company that primarily focuses on the development and commercialization of devices to treat urinary and intestinal dysfunctions. The purchase price is $71 cash per share, which corresponds to an equity value of approximately $3.7 billion and an enterprise value of approximately $3.4 billion. This price represents a premium of 23.3% compared to the closing price on January 5.
Axonics expects to achieve net income of approximately $366 million in 2023, representing growth of 34% from the previous fiscal year. Axonics’ revenue growth profile is expected to be highly accretive to Boston Scientific’s urology business in 2024. The impact on Boston Scientific’s adjusted earnings per share is expected to be negligible in 2024 and accretive thereafter.
Boston Scientific expects to complete the transaction in the first half of 2024, subject to customary closing conditions.
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