Boston Scientific revealed that they would be acquiring a medical technology company based in California, Vertiflex for $465 Million. Since 2015, Vertiflex has worked on and successfully marketed an invasive device that is set to treat patients with minor degenerative spinal stenosis by providing lumbar support. With this latest development, Boston Scientific hopes to boost sales and further their reach in medtech. Keep reading to find out more!
1. More About Vertiflex’s Project
The Superior Indirect Decompression System by Vertiflex is intended to cater to patients who have shown little to no response to orally administered treatments and medicines such as steroid injections. It is designed such that it creates some spatial room in the spinal structure and vertebrae.
This significantly reduces the impact of pressure on spinal nerves and hence reduces pain. This device is ideal for patients who do not need more invasive procedures such as laminectomy or even spinal fusion to deal with their ailments. This system won approval from the FDA back in 2015, and can even be inserted in an outpatient establishment with a minor procedure.
2. Sales Projections
Boston Scientific is mainly targeting older and aging population groups with the device as they make up the main consumer demographic for the Vertiflex system. Boston Scientific has projected several surveys for this specific target audience to see how well this device works. Results from a two-year trial show positive responses and development.
Vertiflex has also benefited significantly from the marketing and leadership strategies that Boston Scientific has offered after this acquisition. With projected sales growing up to a rate of 12%, Boston Scientific expects to meet high profits in 2019.
3. What’s In Store For The Future
In the time that has passed since Boston Scientific in collaboration with Vertiflex has raised a significant amount of money for future projects and developments in the system. Prospects for this collaboration include clinical trials and expanding to a vast and global market front. Also, they are looking to expand their franchise of products as well.
Their main focus, of course, lies on pain alleviation and relief products such as the one developed by Vertiflex. With new and improved products such as these being introduced out on the market, Boston Scientific is all set to make its marks on the sales front as well as the consumer market.
It is no secret that Vertiflex has developed an amazing product for people suffering from back ailments. As back problems can be a sensitive issue to handle, there is indeed more of a need to pay attention to initiatives such as this taken by Vertiflex.
This, when developed hand in hand with Boston Scientific and their sales expertise, is bound to ensure that the system reaches as many consumers out there as possible so that everyone can fully benefit from this up and coming product!