Navigation Links
Boston Scientific Completes Sale of Cardiac Surgery and Vascular Surgery Businesses

NATICK, Mass., Jan. 7 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has completed the sale of its Cardiac Surgery and Vascular Surgery businesses to the Getinge Group of Sweden for $750 million in cash. The sale follows the definitive agreement announced on November 5, 2007.

The Company expects to record after-tax charges of approximately $240 million in connection with the transaction. These charges will be recorded during the fourth quarter of 2007 and the first quarter of 2008.

"We have now sold three of our five previously identified non-strategic businesses, and we expect to close on the remaining two -- Fluid Management and Venous Access -- this quarter," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "These divestitures -- along with our ongoing efforts to reduce expenses and simplify our operating model -- should help us achieve our overall goals of restoring profitable growth, increasing shareholder value and strengthening Boston Scientific for the future."

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit:

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward- looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our divestiture of non-strategic assets, our restructuring initiatives, our operational strategy, our financial performance and our growth strategy. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.

Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and, future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A- Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file thereafter. We disclaim any intention or obligation to publicly update or revise any forward- looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.

CONTACT: Paul Donovan

508-650-8541 (office)

508-667-5165 (mobile)

Media Relations

Boston Scientific Corporation

Dan Brennan

508-650-8538 (office)

617-459-2703 (mobile)

Investor Relations

Boston Scientific Corporation

SOURCE Boston Scientific Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Boston Scientific Completes Sale of Auditory Business and Drug Pump Development Program
2. Boston Scientific Announces Results for Third Quarter Ended September 30, 2007
3. Epeius Biotechnologies Leads With Keynote Address on the Advent of Pathotropic Medicine for Cancer at the Global Pharma R&D Summit Conference in Boston MA
4. The 58th Annual Meeting of the American Association for the Study of Liver Diseases, Boston, Nov. 2-6
5. Boston Scientific Announces European Approval of Next-Generation Implantable Defibrillator
6. Dr. Thomas Van Dyke Renowned Boston University Professor Joins Imagenetixs Medical Advisory Board
7. Boston Scientific to Webcast Conference Call Discussing Third Quarter Financial Results
8. New Scientists Boost Disease-based Research at Boston Biomedical Research Institute
9. Genzyme Begins Major Expansion of Boston Manufacturing Facility
10. Boston Scientific Releases Remote Monitoring Data from its Wireless LATITUDE(R) Patient Management System
11. Alliance for Medical Devices, Instrumentation and Diagnostics formed between Fraunhofer Center for Manufacturing Innovation and Boston University
Post Your Comments:
(Date:11/24/2015)... IN (PRWEB) , ... November 24, 2015 , ... The ... newest Special Interest Group (SIG), MultiGP, also known as Multirotor Grand Prix, to represent ... the last few years. Many AMA members have embraced this type of racing and ...
(Date:11/24/2015)... , Nov. 24, 2015  Tikcro Technologies Ltd. (OTCQB: TIKRF) today announced ... 29, 2015 at 11:00 a.m. Israel time, at ... 98 Yigal Allon Street, 36 th Floor, Tel Aviv, ... Eric Paneth and Izhak Tamir to the Board of ... as external directors; , approval of an amendment to certain terms ...
(Date:11/24/2015)... Urdorf, Switzerland (PRWEB) , ... November 24, 2015 ... ... the plant and the environment are paramount. Insertion points for in-line sensors can ... TOLEDO has developed the InTrac 781/784 series of retractable sensor housings , ...
(Date:11/24/2015)... Telbec/ - ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ... Laurin , President and Chief Executive Officer of ProMetic, will ... 27 th Annual Healthcare Conference to be held at ... st , at 8.50am (ET) and ProMetic,s management ... The presentation will be available live via a webcast accessible ...
Breaking Biology Technology:
(Date:11/20/2015)... Connecticut , November 20, 2015 ... authentication company focused on the growing mobile commerce market ... CEO, Gino Pereira , was recently interviewed on ... interview will air on this weekend on Bloomberg ... Latin America . --> NXTD ) ("NXT-ID" ...
(Date:11/19/2015)... , Nov. 19, 2015  Although some 350 companies ... dominated by a few companies, according to Kalorama Information. These ... 51% of the market share of the 6.1 billion-dollar ... The World Market for Molecular Diagnostic s .    ... market is still controlled by one company and only ...
(Date:11/18/2015)... November 18, 2015 --> ... a new market report titled  Gesture Recognition Market - ... 2015 - 2021. According to the report, the global gesture recognition ... anticipated to reach US$29.1 bn by 2021, at a ... North America dominated the global gesture ...
Breaking Biology News(10 mins):