Neuromodulation devices have been key to Boston Scientific's ($BSX) years-long effort to reverse its lagging fortunes, and now the med tech giant has teamed up with two European nonprofits to promote its treatments for Parkinson's disease and dystonia.
Under partnerships with Dystonia Europe and the European Parkinson's Disease Association, Boston Scientific said it will work to improve the standard of care for both disorders, which affect a combined 1.7 million Europeans, the company said. That means continuing its R&D efforts in neuromodulation and promoting its existing treatments, including the recently CE-marked Vercise deep brain stimulator. That device, which treats Parkinson's and dystonia, is in the midst of pivotal studies targeting FDA approval.
The deals dovetail with Boston Scientific's renewed focus on neuromodulation. Last quarter, the company's nerve-stimulating unit leapt 32% to $138 million in revenue, a jump that helped offset continued declines in cardiac rhythm management and a growth pace second only to its rapidly expanding electrophysiology unit.
"Neurological diseases are among the greatest healthcare challenges we currently face," Neuromodulation President Maulik Nanavaty said in a statement. "At Boston Scientific, we are committed to improving how the diseases are managed today and developing innovative medical technologies that have a real impact on people's lives."
Beyond Vercise, Boston Scientific's neuromodulation portfolio includes the line of pain-treating Precision spinal cord stimulators.
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