Boston Scientific to acquire remaining 90% stake of SoniVie for $360M

Boston Scientific (BSX) announced it has entered into a definitive agreement to acquire SoniVie, a privately held medical device company that has developed the Tivus Intravascular Ultrasound System. An investigational technology, the Tivus system is designed to denervate nerves surrounding blood vessels to treat a variety of hypertensive disorders, including renal artery denervation for hypertension. As a strategic investor in SoniVie, Boston Scientific currently holds an equity stake of approximately 10%. Therefore, the transaction consists of an upfront payment of approximately $360M for the 90% stake not yet owned and up to $180M upon achievement of a regulatory milestone. Boston Scientific anticipates the transaction to be completed in the first half of 2025, subject to customary closing conditions. On an adjusted basis, the company expects the transaction to be slightly dilutive to adjusted earnings per share in 2025, and to offset this through internal cost efficiencies and trade-offs. On a GAAP basis, the transaction is expected to be more dilutive due to amortization expense and acquisition-related charges, except for a one-time gain to be recognized at closing associated with the company’s previously held equity interest in SoniVie.