Boston Scientific will buy privately held Asthmatx Inc. in a deal that could be worth more than $440 million, the medical device maker said Monday.
Boston Scientific, which is based in Natick, Mass., said it will pay $193.5 million upfront in cash. It will then make additional payments of up to $250 million through 2019 based on revenue benchmarks for Asthmatx.
Asthmatx makes and markets the Alair Bronchial Thermoplasty System for the treatment of severe, persistent asthma. The system aims to reduce the frequency of severe asthma attacks by delivering thermal energy to airway walls to decrease their ability to constrict. It received Food and Drug Administration approval last April.
Asthmatx is based in Sunnyvale, Calif.
The deal is expected to close in the fourth quarter.
Shares of Boston Scientific Corp. rose a penny to $5.43 in Monday morning trading.