Covington Associates Announces Advisory Role in Acquisition of Cosman Medical to Boston Scientific
Boston, MA., July 28, 2016 — Covington Associates LLC, a leading middle market investment bank, announced its role as exclusive advisor to Cosman Medical, Inc., a privately held manufacturer of radiofrequency ablation (RFA) system, on the sale of its business to Boston Scientific Corporation (NYSE: BSX). The Cosman Medical team and products will become part of the Boston Scientific Neuromodulation business, which offers a range of Spinal Cord Stimulator (SCS) systems to treat patients with chronic pain, and Deep Brain Stimulation systems* for the treatment of Parkinson’s disease, dystonia and essential tremor.
“We are pleased to join the Boston Scientific team and help expand access to leading treatments for chronic pain,” said Eric Cosman, Jr, PhD, scientific director, Cosman Medical. “This acquisition comes at a time when our society is recognizing the impact of relying extensively on opioids to treat pain and is looking for additional approaches. Our mutual commitment to innovation and quality will help us deliver solutions.”
“Boston Scientific’s global sales force and complementary product offerings will enable Cosman Medical’s industry leading technology and solutions to reach a much broader range of customers not only in the United States but internationally as well – thereby making this a win/win transaction for both sides,” said Tom Cibotti, Managing Director of Covington Associates.
About Covington Associates, LLC.
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising, strategic advisory, fairness opinions, and valuations to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991, with offices in Boston and New York, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice-driven and results-focused organization. Since its inception, Covington Associates has completed more than 200 transactions globally for both private and publicly traded companies totaling over $15 billion.