by
Gus Iversen, Editor in Chief | October 22, 2025
Boston Scientific has signed a definitive agreement to acquire Nalu Medical, a privately held company specializing in neuromodulation devices for chronic pain management.
The Marlborough, Massachusetts-based firm will pay approximately $533 million in cash for the equity it does not already own, having been a strategic investor in Nalu since 2017.
The Carlsbad, California-based Nalu developed a neurostimulation system designed to manage chronic pain originating from peripheral nerves, including pain in the shoulder, lower back and knee. The system uses peripheral nerve stimulation to deliver mild electrical impulses that disrupt pain signals before they reach the brain. It features a miniaturized, battery-free implant powered wirelessly by an external therapy disc and controlled via a smartphone app.
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Nalu’s device received FDA 510(k) clearance in 2019. In clinical studies, the system demonstrated sustained pain relief. In the COMFORT trial, 87% of participants reported more than 50% pain reduction at 12 months, while COMFORT 2 showed an average 64% pain relief at six months for 79% of participants. Outcomes from more than 2,000 real-world cases aligned with these results, with 94% of patients reporting meaningful improvement across various chronic pain conditions.
"Peripheral nerve stimulation is an exciting field with a significant unmet patient need," said Jim Cassidy, president of neuromodulation at Boston Scientific. "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."
Boston Scientific expects the acquisition to close in the first half of 2026, pending standard closing conditions. Nalu is projected to generate more than $60 million in sales this year, with over 25% revenue growth anticipated in 2026. The acquisition is expected to be slightly accretive to adjusted EPS by 2027.
