Boston Sci sells Prolieve tech back to Medifocus for $5M

After marketing the device for three years, Boston Scientific ($BSX) has sold Prolieve back to Medifocus for $5 million. Boston Sci acquired the prostate gland-treating tech for $60 million in 2009, and Medifocus regains all Prolieve inventory, the device's patents and its related mobile distribution assets. Under the terms of the deal, Medifocus will pay Boston Sci $2.5 million upfront, followed by up to $2.5 million more in quarterly installments, depending on sales of the device. The companies expect to close the deal within 30 days. Release | More