In a bold stride to expand its medical device portfolio, Boston Scientific Corp has laid down a cool $3.7 billion to scoop up Axonics Inc., a trailblazer in technologies tailored for urinary and bowel dysfunction. The Marlborough, Massachusetts-based heavyweight avowed to fork out $71 per share in a straight cash deal, towering a generous 23 percent over Axonics' last trading day finish of $57.57, as reported by the Boston Globe.

Sharpening its edge in the sacral neuromodulation space—a minimally invasive approach to tackle overactive bladder and fecal incontinence—Boston Scientific is set to directly jump into a competitive arena. The transaction promises to be immediately accretive to Boston Scientific's urology wing come 2024, per company statements. Furthermore, the acquisition marks another assertive leap, following the September purchase of pain therapy innovator Relievant Medsystems and a previous $523 million buyout of Chinese medical tech firm Acotec Scientific, as outlined in Reuters.

Axonics itself has been making waves with its Axonics R20 and Axonics F15 systems, which are ringing in change by sending mild electrical pulses to nerves to help restore essential communication between the brain and bladder. The company's suite also boasts Bulkamid, a less invasive remedy for urinary incontinence in women. Wall Street appeared to nod firmly in agreement with the deal, as Axonics shares swelled by 22% in premarket trade.

Predictions place the net revenue of Axonics at approximately $366 million for the year 2023. With the acquisition expected to close in the first half of this year, this move by Boston Scientific is aimed to quickly expand and reinforce its market presence in the urology sector, a detail expounded by Boston Scientific, as per Reuters.