Boston Scientific (BSX.US) will acquire SoniVie, a medical device company, for $360 million upfront.

According to Zhitong Finance App, Boston Scientific (BSX.US) has agreed to acquire SoniVie, a medical device company, for a prepayment of approximately $360 million.

As a strategic investor in SoniVie, Boston Scientific currently holds approximately 10% of SoniVie's equity. The transaction includes a prepayment of approximately $360 million for the remaining 90% of the equity it does not already own, as well as up to $180 million upon reaching regulatory milestones.

The transaction will expand Boston Scientific's interventional cardiology products.

SoniVie's main product, TIVUS, is an experimental endovascular treatment designed to remove nerves surrounding the vessel to treat various hypertension diseases, including renal denervation (RDN).

Boston Scientific expects the transaction to be completed in the first half of 2025. The company expects the transaction to slightly dilute 2025 adjusted EPS and offset this impact through internal cost efficiency and the transaction.

As of the time of writing, Boston Scientific's premarket shares rose nearly 1%.