Boston Scientific to buy VC-backed Vertiflex

Boston Scientific said May 9 that it agreed to buy Vertiflex Inc. The deal calls for $465 million in upfront cash with additional payments contingent on commercial milestones for the next three years. Vertiflex has developed a device to improve improve physical function and reduce pain in patients with lumbar spinal stenosis. Vertiflex has raised about $160 million in funding from investors including Endeavour Vision, H.I.G Capital and H.I.G. BioVentures, according to PitchBook.

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