Boston Scientific to Purchase Med-Tech Firm for $3.7 Billion (3)

Boston Scientific Corp. is acquiring Axonics Inc., a maker of devices to treat urinary and bowel dysfunction, in a transaction valued at $3.7 billion.

The company said it will pay $71 a share in cash for the medical technology firm, according to a statement on Monday. That’s about 23% higher than Axonics’ Friday closing price of $57.57 a share.

Boston Scientific was little changed as US markets opened, while Axonics rose about 20% to $68.98.

Axonics boosted sales 42% to $342.6 million in sales in the 12 months through September. Acquiring the company will help Boston Scientific keep up ...