News

Boston Scientific has agreed to pay $533 million to acquire the remaining stake it didn’t already own in Nalu Medical, a private firm that develops a compact neurostimulation implant designed to treat chronic pain.

According to an Oct. 17 press release, the transaction is expected to close in the first half of next year.
Boston Scientific projected that Nalu will bring in over $60 million in revenue in 2025 and achieve more than 25% year-over-year growth in 2026. The company also stated that, on a non-GAAP basis, the deal is anticipated to “be immaterial to adjusted earnings per share (EPS) in 2026, slightly accretive in 2027, and increasingly accretive thereafter.”

Nalu’s device, which earned FDA 510(k) clearance in 2019, features a small, battery-free pulse generator implanted under the skin and connected to the spinal cord or peripheral nerves via a thin electrical lead—designed to function for up to 18 years.

The system is powered wirelessly by an external, rechargeable disc that can be replaced or upgraded as needed.

Boston Scientific has been financially involved with Nalu since 2017.

“Adding the highly differentiated Nalu Medical technology complements our existing therapies—including spinal cord stimulation, basivertebral nerve ablation and radio frequency ablation—enabling us to deliver advanced pain relief options to a wider variety of patient populations,” said Jim Cassidy, president of neuromodulation for Boston Scientific, in the announcement.

Last November, Nalu shared results from a post-market observational study showing that 86% of patients experienced at least a 50% reduction in lower back and leg pain after three months of use. Additionally, 54% reported pain relief of 80% or more.

Earlier this year, the company secured $65 million in a Series E funding round to further support the commercialization of its system.

Backers included Novo Holdings, Gilde Healthcare, Advent Life Sciences, and others.