Announced in March this year, the deal also requires Boston Scientific to make an additional payment of $50m based on sales in 2016.
The acquired portfolio includes GreenLight XPS and HPS Laser Therapy systems designed to treat benign prostatic hyperplasia, AMS 800 Urinary Control system for male incontinence and AMS 700 Inflatable Penile Prosthesis used for erectile dysfunction.
According to Boston Scientific, AMS' women's health business was not included in the deal.
Under the agreement, Lake Region Medical will receive $478m in cash and an aggregate of 5.1 million shares of common stock from Greatbatch, which will also assume $1bn of the former's net debt.
Greatbatch president Thomas Hook said: "Through this transformative deal, we are going to be at the forefront of innovating technologies and products that help change the face of healthcare, providing our customers with a distinct advantage as they bring complete systems and solutions to market.
"In turn, our customers will be able to accelerate patient access to life enhancing therapies."
The acquired business is anticipated to expand Mallinckrodt's speciality brands portfolio and diversify its hospital offerings through the addition of a high-margin drug device system, which is used in hospitals and major medical centres in 25 countries.
Therakos provides treatment platforms for immune disorders, including Cellex Photopheresis system, and also delivers autologous immune cell therapy through extracorporeal photopheresis (ECP).
Scientists at North Carolina (NC) State University developed a vomiting machine to study norovirus, which is said to affect 20 million people each year in the US.
Norovirus is a group of more than 30 related viruses that can cause vomiting and diarrhoea.
US Department of Agriculture-National Institute of Food and Agriculture Food Virology Collaborative scientific director Lee-Ann Jaykus said: "This machine may seem odd, but it's helping us understand a disease that affects millions of people.
"This is work that can help us prevent or contain the spread of norovirus, and there's nothing odd about that."
Harvard University's Wyss Institute for Biologically Inspired Engineering introduced an improved version of its blood-cleansing device that treats sepsis by mimicking the human spleen.
The new device synergises with legacy antibiotic therapies and has been streamlined to boost its readiness for near-term translation to clinical trials.
The device uses the institute's genetically engineered Mannose-binding lectin (MBL) protein, called FcMBL, which allows it be administered quickly, even without identification of the infectious agent.
Irish medical technology firm Medtronic signed an agreement to acquire California-based medical device company, Twelve, in a cash and debt-free transaction valued at up to $458m.
Under the agreement, Medtronic will pay $408m at closing and $50m on achievement of CE Marking for Twelve's transcatheter mitral valve replacement (TMVR) device.
Medtronic Coronary and Structural Heart president Sean Salmon said: "Upon close, this acquisition will strategically augment our existing capabilities in the transcatheter mitral space, which represents an important growth opportunity for Medtronic.
"The combined strengths of our organisations will significantly accelerate our ability to deliver an exciting and differentiated therapy to patients, physicians and healthcare systems around the world."
Edwards Lifesciences acquired US-based developer of a transcatheter mitral valve (TMV) replacement system, CardiAQ Valve Technologies for $400m.
Under terms of the agreement, Edwards paid $350m in cash for CardiAQ at the closing of the transaction, and will also pay an additional $50m upon achievement of a European regulatory milestone.
Edwards chairman Michael Mussallem said: "We believe the combined knowledge and efforts of the talented CardiAQ and FORTIS transcatheter mitral valve system teams will help us advance a therapy that offers a meaningful solution for patients."
Researchers from Cardiff University developed the first self-assessment test designed to help clinicians diagnose autism in adults.
The test measures the extent to which adults are affected by repetitive behaviours, such as lining up objects or arranging them in patterns, obsessive fiddling with objects, or insisting that aspects of a daily routine remain exactly the same.
Researchers claim the test is a reliable method of measuring such behaviours to indicate when they are unusually frequent or severe.
Cardiff University autism experts partnered with Australia's La Trobe University to trial the test on 229 British and Australin adults with and without an autism diagnosis.