What Medical Device Company Reinvented Itself 5 Years Ago?

This week's big M&A news that Boston Scientific has agreed to pay $3.7 billion for Axonics is giving us 2018 vibes.

That was the year Boston Scientific reinvented itself through no less than nine acquisitions and about $6 billion worth of strategic venture investments.

While we await official commentary from Boston Scientific management to find out if we should expect the company's M&A appetite this year to rival that of 2018, let's revisit the company's major deal activity that year.

In November 2018, the company won bragging rights to the biggest medtech M&A news of the year when it announced it would buy BTG for $4 billion, although that deal didn't close until 2019. The London-based company had three key businesses, the largest of which was its interventional medicine portfolio which encompassed several peripheral interventional product lines.

Another noteworthy 2018 M&A from Boston Scientific was its acquisition of Augmenix for a $500 million cash payment upfront and up to $100 million in sales-based milestone payments. Augmenix helped Boston Scientific bolster its urology business with the addition of the SpaceOAR hydrogel, a therapy designed to reduce common side effects that men may experience after receiving prostate cancer radiotherapy. That deal followed Boston Scientific's decision to buy NxThera for $406 million, a deal that also strengthened its urology business.

Boston Scientific's other 2018 acquisitions included nVision for $275 million (counting milestone payments); Claret Medical for $270 million (with milestone payment); Veniti for $160 million (with milestone payments); EMcision (financial details undisclosed); Cryterion Medical for $202 million (not counting the company's previous investment in Cryterion); and Securus Medical Group for $50 million (counting milestone payments).