Medical device firm Boston Scientific has acquired US-based medical device manufacturer Cosman Medical for an undisclosed amount.
Following the acquisition, Cosman Medical team and its products will feature under the banner of Boston Scientific Neuromodulation business.
Cosman Medical is a manufacturer of radiofrequency ablation (RFA) systems which is a versatile outpatient procedure used to treat patients with chronic pain.
Boston Scientific neuromodulation president and senior vice-president Maulik Nanavaty said: "This acquisition is a natural extension of our current product portfolio and will help us provide physicians and patients more options to address chronic pain with non-opioid therapeutic treatments.
"The addition of the Cosman Medical product line, which is built on industry-leading technology and known for its high-quality, expands our capability to provide innovative solutions for the treatment of chronic pain."
The RFA system applies heat on small areas of nerve tissue to block signals triggering pain.
Boston Scientific offers a range of spinal cord stimulator (SCS) systems which is also used to treat chronic pain.
Patients seek to manage pain using SCS after RFA system is used to relieve the pain.
Cosman Medical scientific director Eric Cosman said: "This acquisition comes at a time when our society is recognising the impact of relying extensively on opioids to treat pain and is looking for additional approaches.”
Boston Scientific has recently launched the Precision Montage MRI SCS system which offers customised pain relief.
The transaction is expected to be accretive to the company’s earnings and more dilutive on a generally accepted accounting principles (GAAP) after 2016.