H.I.G. BioHealth Partners, the life-science investment affiliate of H.I.G. Capital, has announced the sale of Vertiflex to Boston Scientific. The total equity value of the sale is approximately $465 million in cash, with additional payments contingent on commercial goals.
H.I.G. BioHealth, based in Miami, invests in a broad range of healthcare opportunities, principally in companies developing therapeutic drugs, medical devices and diagnostics for unmet medical needs. The firm typically invests $5 million to $40 million per company over the life of an investment.
Vertiflex, based in Carlsbad, Calif., develops minimally invasive interventions for spinal stenosis. This includes Superion, an indirect decompression system designed to improve physical function and reduce pain in patients with lumbar spinal stenosis.
Boston Scientific (NYSE: BSX) announced its intention to acquire Vertiflex in May.