Boston Scientific Corp. (NYSE: BSX) announced that it has closed on its acquisition of Irvine-based medical device maker Axonics Inc. (Nasdaq: AXNX) for $3.7 billion.
The acquisition, first announced in January, will help Boston Scientific expand into the sacral neuromodulation market, according to Megan Scanlon, senior vice president and president at Boston Scientific.
Co-founder and Chief Executive Raymond Cohen in September told the Business Journal that he’d exit the company once the sale closes.
Shares in Axonics were relatively unchanged at $70.98 and a $3.6 billion market cap on Nov. 15 the day the news was announced.
See the Business Journal’s Nov. 25 issue for more information.