2025Year10Month17Day,Boston Scientific (NYSE:BSX) announced approximately5.33hundred million USD（Equivalent to approximately RMB38100 million）Cash completed forNalu MedicalThe acquisition marks a new era in its strategic layout in the field of neuromodulation.This acquisition not only strengthens Boston Scientific’s technological moat in the chronic pain management sector, but also reflects the explosive growth trajectory of the neuromodulation market and the broader trend of industry consolidation.

Nalu MedicalFounded in2015year, headquartered in Carlsbad, California, USA, is an innovative medical device company focused on the treatment of chronic neuropathic pain. To date,Nalu MedicalTotal Amount Completed Exceeds2equity financing of $100 million.

Nalu Medical’s management team comprises industry veterans with extensive backgrounds in medical technology and commercialization expertise. Among them,CEO Tom WestFormerly at a medical device companyIntersect ENTChief Executive Officer, having spearheaded multiple successful product launches and market expansions, with strategic vision and execution capabilities that haveNalu...rapid development, providing strong assurance. Other team members also come from top-tier medical device companies, covering the entire value chain including R&D, clinical affairs, and sales.

Nalu MedicalCore Products—NaluNeuromodulation System: Redefining Industry Standards with Disruptive Innovation. The system features a battery-free design, with an implantable pulse generator (IPG) with a volume only that of traditional devices1/27, powered wirelessly by an external wearable treatment disc, achieving18years of ultra-long service life, completely resolving the core pain points of frequent battery replacement surgeries and low patient comfort associated with traditional stimulators.Clinical data show that its spinal cord stimulation (SCS) and peripheral nerve stimulation (PNS) technology can enable87%patients experienced pain relief exceeding50%, mean pain reduction69%, and significantly improve patients' quality of life. This data represents a milestone in the field of chronic pain treatment, demonstrating unique efficacy particularly for refractory conditions such as Failed Back Surgery Syndrome (FBSS) and Complex Regional Pain Syndrome (CRPS).

This acquisition is Boston Scientific"Technological Breakthrough+The latest manifestation of the “Strategic M&A” dual-wheel drive strategy. In recent years, the company has continuously expanded its footprint through high-frequency mergers and acquisitions:2024Year-on-year11.8$100 million acquisitionSilk Road MedicalEntered the vascular therapy sector in the same year37Acquisition for $100 MillionAxonicsStrengthen the neuromodulation business for urinary incontinence,2025Acquired again at the beginning of the yearBolt MedicalIntravascular Lithotripsy (IVL) sector.NaluThe addition will strongly complement its existing product portfolio—building on spinal cord stimulation, basivertebral nerve ablation, and radiofrequency ablation by adding peripheral nerve stimulation technology to create a comprehensive pain management solution spanning from the central to the peripheral nervous system. Jim Cassidy, President of Neuromodulation at Boston Scientific, emphasized: “PNSThere is a significant unmet need in the field,Naluhighly differentiated technologies will help us reach a broader patient population.”

WithNaluThrough technological integration, Boston Scientific is poised to achieve a leap from “treatment” to “cure” in the field of chronic pain. Its wearable power system and smartphoneAPPRemote control capabilities align more closely with the development trends in digital health and artificial intelligence. Meanwhile, Boston Scientific’s localized production setup at its Shanghai Lingang factory will accelerate the penetration of innovative technologies into the Chinese market. As the head of Boston Scientific China stated, “We are committed to improving patients’ lives worldwide through innovative solutions, and this acquisition represents the latest embodiment of that commitment.”

According to Baijian Fanglue (DIResearch) data, the global neuromodulation device market is projected2032Nalu195.94hundred million USD, CAGR10.39%. As one of the fastest-growing markets, China has over1hundreds of millions of people, but the risk of addiction to traditional opioids and surgical trauma limit treatment options.Naluminiaturized, battery-free design comes at an opportune time, with its technological advantages at Medtronic (34%market share), Abbott (29%), Boston Scientific (23%) tearing a breach in the market monopolized by the big three.Boston Scientific expects,2026YearNaluRevenue will exceed6000USD 10,0002027achieved significant growth year-on-year, while enhancing the profitability of the overall neuromodulation business line through synergies.

This acquisition confirms“The iron law that ‘M&A is the primary driver of long-term growth for pharmaceutical companies’.” Boston Scientific has since1979Since its establishment, it has achieved cross-sector expansion from cardiovascular to neuromodulation through continuous acquisitions. Its2006Year270Acquisition for Hundreds of Millions of US DollarsGuidant、2024Year22$100 Million Bond Financing for AcquisitionAxonicsSuch cases exemplify the efficient integration of capital operations and technological innovation. Against the backdrop of a low-interest-rate environment and accelerated technological iteration, healthcare giants are rapidly acquiring cutting-edge technologies through mergers and acquisitions, shortening product development cycles, and securing commanding positions in niche market segments.

This acquisition is not merely a commercial transaction, but a milestone in the interdisciplinary integration of neuroscience, materials engineering, and clinical medicine.。Device Home will continue to monitor this field.