By Aman Kidwai
Workplaces Editor
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On Friday, Boston Scientific Corporation announced an agreement to acquire Nalu Medical, a medical technology company focusing on chronic pain.
Boston Scientific has been an investor in Nalu Medical since 2017, with plans to complete the full acquisition with a $500 million cash payment. The company expects to finalize the acquisition in the first half of 2026 and add $60 million in 2025 sales from Nalu. It also projects 25 percent year-over-year growth in 2026.
Why It Matters
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Nalu Medical was founded in 2014 and is located in Carlsbad, California. Co-founder and first CEO Keegan Harper stepped down as CEO in April 2020 but stayed on as chairman of the board. Harper previously sold another company to Boston Scientific in 2018.
Nalu Medical closed a $20 million investment from B Capital in March, adding to a Series E funding round that closed for $65 million at the end of 2023 with investors Gilde Healthcare, MVM Partners, Endeavour Vision, Decheng Capital, Longitude Capital, Advent Life Sciences, Pura Vida and Aperture Venture Partners.
The funding was raised to “accelerate commercial growth, expand clinical and health-economic evidence, continue product development, scale operations,” and build “clinical data that provide physicians with clear evidence of its benefits while also serving as the basis for expanded access and payor coverage.”
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What To Know
Boston Scientific announced two acquisitions earlier this year, SoniVie Ltd. in March and Bolt Medical in January, and at least five acquisitions in 2024, including multiple companies valued over one billion dollars such as Silk Road and Axonics. The company reported $16.7 billion revenue in 2024 with around 53,000 employees.
Nalu Medical developed the Nalu Neurostimulation System to address chronic pain in a minimally invasive fashion. It includes an implantable pulse generator that “interrupts pain signals before they get to your brain” and has an expected service life of 18 years.
What People Are Saying
Jim Cassidy, president, Neuromodulation, Boston Scientific, said: "Peripheral nerve stimulation is an exciting field with a significant unmet patient need. Adding the highly differentiated Nalu Medical technology complements our existing therapies—including spinal cord stimulation, basivertebral nerve ablation and radiofrequency ablation—enabling us to deliver advanced pain relief options to a wider variety of patient populations."
Dr. Robert Mittendorff, Head of Healthcare and General Partner at B Capital, said in March: “The unique, clinically proven Nalu Neurostimulation System has the potential to address the unmet needs of millions who suffer from chronic neuropathic pain. We look forward to partnering with Nalu’s talented management team and strong syndicate of investors at a time of high revenue growth and potential for the company.”
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