NEC Member Boston Scientific recently announced its purchase of nVision medical, a California med-tech firm that’s developing a device to screen women for ovarian cancer. It was reported that Boston Scientific will pay $150 million upfront and another $125 million in later payments, totaling a $275 million purchase.
Boston Scientific sees large market potential of around $500 million per year for nVision’s devices, predicting that the market eventually could grow to $2 billion. The reason the device is valuable is that there has not previously been a screening test for this particular form of cancer and that current testing methods yield false-positives leading to unnecessary surgery.
The deal marks Boston Scientific’s second cancer-related acquisition in recent weeks, having previously bought Minnesota’s NxThera which makes devices to treat enlarged prostates.
The New England Council congratulates Boston Scientific for its continued growth and looks forward to the continued development of this important cancer screening tool. Read more on Boston Business Journal.