Boston Scientific to Acquire Nalu Medical for $533 Million, Expanding Chronic Pain Treatment Portfolio
Boston Scientific’s acquisition of Nalu Medical will bolster its offerings in the rapidly growing field of neuromodulation, providing new options for adults suffering from chronic pain. The medical technology giant announced Friday it will acquire the remaining shares of privately held Nalu Medical for approximately $533 million in cash.
Expanding Access to Advanced Pain Therapies
The deal grants Boston Scientific access to Nalu’s innovative neurostimulation device, a system designed to deliver targeted pain relief through peripheral nerve stimulation (PNS). This technology utilizes mild electrical pulses to interrupt pain signals before they reach the brain, offering a potentially less invasive alternative to traditional pain management strategies. Nalu’s therapy distinguishes itself with a miniaturized, battery-free implantable pulse generator powered wirelessly by an external disc and controlled via a smartphone application.
The device received approval from the U.S. Food and Drug Administration in 2019 for PNS and in 2020 for spinal cord stimulation (SCS), another established pain therapy.
Strategic Acquisitions Drive Growth
This acquisition is the latest in a series of strategic moves by Boston Scientific this year. In January, the company completed the acquisition of the remaining stake in cardiovascular device maker Bolt Medical with an upfront payment of $443 million. According to one analyst, these moves demonstrate a clear prioritization of mergers and acquisitions as a key component of the company’s capital allocation strategy.
“The Nalu deal is a good fit for Boston’s neuromodulation portfolio,” the analyst noted. “We expect the company to continue to focus on acquisitions.”
Boston Scientific already offers a range of pain modulation therapies, including spinal cord stimulation systems, radiofrequency ablation, and basal vertebral nerve ablation devices. Experts believe Nalu’s system offers a more robust solution for PNS compared to existing market options, presenting a significant opportunity for growth. While optimism surrounding the SCS application is more tempered, given Boston Scientific’s existing portfolio in that area, the potential for PNS is substantial.
Financial Outlook and Investor Response
Shares of Boston Scientific, which has been a strategic investor in California-based Nalu since 2017, experienced a modest increase of approximately 1 percent in early trading following the announcement. The company anticipates the acquisition will not significantly impact adjusted earnings in 2026, but projects a slightly accretive effect in 2027, with increasing accretion in subsequent years.
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