Prolieve sells devices for the treatment of benign prostatic hyperplasia. The Prolieve technology was originally created and commercialized by the Medifocus scientific and management teams.
Medifocus will pay a total of $5 million for the business. Medifocus will pay Boston Scientific $2.5 million upon closing of the transaction and the remainder will be paid in quarterly installments contingent upon the sales performance of the Prolieve business, up to a maximum amount of $2.5 million.
Medifocus has its corporate office in Toronto, Ontario, Canada, and its operating office in Columbia, Md.
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