Medical solution company Boston Scientific Corporation (NYSE:BSX) disclosed on Tuesday the completion of the acquisition of Vertiflex Inc for USD465m in an upfront cash deal.

In addition, Boston will announce additional payments contingent on commercial milestones for the next three years.

Vertiflex Inc is a privately-held company that developed and commercialised the Superion Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis (LSS) – the narrowing of the spinal canal, which can cause compression of nearby nerves.

Upon closing, the acquisition of Vertiflex adds the only US FDA-approved, commercially-available, minimally-invasive interspinous spacer to Boston's industry-leading pain management portfolio of spinal cord stimulation and radiofrequency ablation.