Pacira acquired Myoscience, a medical device company focused on targeted therapies for pain relief, for up to $220 million.
Five things to know:
1. The transaction is expected to close by early April, with Pacira paying $120 million in cash upfront with the potential for another $100 million pending commercial and regulatory milestones.
2. Founded in 2005, Myoscience developed the iovera system, which will become part of Pacira's non-opioid product portfolio, alongside Exparel. The iovera system is FDA cleared and indicated for use during minimally invasive, outpatient procedures to provide three months of pain relief.
3. The companies plan to present new data on iovera during the American Academy of Orthopaedic Surgeons Annual Meeting in Las Vegas, March 12 to 16.
4. Pacira is poised for growth in 2019, as the CMS final payment rule added the ability for ASCs and hospital outpatient departments to pay separately for non-opioid pain management, including Exparel.
5. Pacira believes combining Exparel with iovera could be more effective and increase the likelihood that patients can undergo surgical procedures without opioids.