Axonics Modulation Technologies Inc. announced today it acquired London-based Contura, whose main product is Bulkamid, a hydrogel for women with stress urinary incontinence.
The Irvine-based device maker (Nasdaq: AXNX) said it acquired Contura for a total consideration of $200 million in cash and stock, and a potential future milestone payment of $35 million.
“This acquisition is highly synergistic, leverages our expansive commercial footprint and gives us the opportunity to expand our [sacral neuromodulation] business around the world,” Ray Cohen, chief executive of Axonics, said in a statement.
“Axonics will provide urogynecologists and urologists with a complete suite of clinically differentiated incontinence solutions for their patients, thereby enhancing Axonics’ value proposition to new and existing customers.”
Axonics, which makes a sacral neuromodulation device for women with overactive bladder and urinary incontinence, also reported $111.5 million in full-year 2020 sales, up from $13.8 million in 2019.
For more details on the deal, see the March 8 print edition of the Business Journal.