Boston Scientific to acquire Nalu Medical for $533 million

MARLBOROUGH, Mass. - Boston Scientific Corporation (NYSE:BSX), the $145 billion medical technology giant whose stock has gained over 13% in the past year, announced Friday it has entered into a definitive agreement to acquire the remaining equity of Nalu Medical, Inc. for approximately $533 million in cash. According to InvestingPro analysis, Boston Scientific currently appears fairly valued based on its Fair Value model.

The acquisition will expand Boston Scientific’s neuromodulation portfolio with Nalu’s peripheral nerve stimulation (PNS) technology for chronic pain management. Boston Scientific, which has demonstrated robust revenue growth of 21.4% over the last twelve months and maintains a "GREAT" financial health score according to InvestingPro, has been a strategic investor in the privately held medical technology company since 2017.

Nalu’s neurostimulation system delivers targeted relief for adults with severe chronic pain of peripheral nerve origin through a miniaturized, battery-free implantable pulse generator. The device is powered wirelessly by an externally worn therapy disc and controlled via a smartphone app.

The system received FDA clearance in 2019 and has demonstrated significant pain relief in clinical trials. The COMFORT study showed 87% of participants reported more than 50% reduction in pain at 12 months, while COMFORT 2 reported 79% of patients achieved an average pain relief of 64% at six months.

"Peripheral nerve stimulation is an exciting field with a significant unmet patient need," said Jim Cassidy, president of Neuromodulation at Boston Scientific. "Adding the highly differentiated Nalu Medical technology complements our existing therapies."

Nalu is expected to generate sales exceeding $60 million in 2025 with projected growth over 25% in 2026. The transaction is anticipated to be immaterial to Boston Scientific’s adjusted earnings per share in 2026 and slightly accretive in 2027.

The acquisition is expected to close in the first half of 2026, subject to customary closing conditions, according to the company’s press release statement. With strong cash flows and moderate debt levels, Boston Scientific appears well-positioned for this strategic acquisition. For deeper insights into Boston Scientific’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes detailed analysis of the company’s valuation metrics and growth potential.

In other recent news, Boston Scientific has received notable attention from various analyst firms regarding its financial outlook and stock ratings. The company recently outlined its long-term plans, highlighting projections of over 10% organic revenue growth and double-digit earnings per share (EPS) growth from 2026 to 2028. Following this, RBC Capital reiterated its Outperform rating with a price target of $125.00, expressing confidence in the company’s future performance. TD Cowen also maintained its Buy rating and $115.00 price target, citing strong expectations for the company’s growth trajectory. However, Erste Group downgraded the stock from Buy to Hold, pointing to a high price-to-earnings ratio as a limiting factor for stock price growth. Additionally, Piper Sandler reiterated its Overweight rating, despite concerns about potential deceleration in the Pulsed Field Ablation business. These developments reflect a mix of optimism and caution among analysts regarding Boston Scientific’s future prospects.

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