Boston Scientific purchases DBS therapy specialist Intelect Medical

Boston Scientific has agreed a deal to purchase Intelect Medical, a manufacturer of advanced neuromodulation technologies for use in deep brain stimulation (DBS) therapy.

The acquired company has been valued at $78 million (50.3 million pounds), with Boston Scientific offering a total cash payment of $60 million to take control of the firm.

Intelect Medical is currently developing a DBS programming system called Guide, which will allow stimulation fields in the brain to be visualised, thereby offering more precise targeting of therapy.

It will be used in conjunction with Boston Scientific's Vercise DBS System and will aid the company's efforts to establish itself in the growing DBS market, which according to estimates will be worth more than $1.5 billion by 2020.

Ray Elliott, president and chief executive officer of Boston Scientific, said: "This acquisition represents additional progress in our strategy to realign Boston Scientific's portfolio through the execution of our priority growth initiatives."

This comes after Boston Scientific completed the sale of its neurovascular business unit to Stryker earlier this month, while also finalising its takeover of Sadra Medical.