(Reuters) -Boston Scientific said on Monday it had agreed to buy medical device maker Axonics Inc for $3.7 billion.
Boston Scientific will pay $71 in cash per share, representing a 23.3% premium to the Axonics’s last close.
Shares of Axonics, which makes devices for adults with bladder and bowel dysfunction, jumped 22% in premarket trading.
The deal is expected to close in the first half of 2024, after which Axonics will become a wholly owned subsidiary of Boston Scientific.
(Reporting by Sriparna Roy in Bengaluru; Editing by Sriraj Kalluvila)
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