Navigation Links
Boston Scientific Completes Sale of Cardiac Surgery and Vascular Surgery Businesses
Date:1/7/2008

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: http://www.bostonscientific.com.

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:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... 2016 , ... Researchers at the Universita Politecnica delle Marche in Ancona combed ... pleural mesothelioma. Their findings are the subject of a new article on the Surviving ... signposts in the blood, lung fluid or tissue of mesothelioma patients that can help ...
(Date:6/23/2016)... , June 23, 2016 A person commits a ... crime scene to track the criminal down. An ... Food and Drug Administration (FDA) uses DNA evidence to track ... Sound far-fetched? It,s not. The FDA has increasingly ... support investigations of foodborne illnesses. Put as simply as possible, ...
(Date:6/23/2016)...   EpiBiome , a precision microbiome engineering company, ... financing from Silicon Valley Bank (SVB). The financing will ... its drug development efforts, as well as purchase additional ... has been an incredible strategic partner to us – ... would provide," said Dr. Aeron Tynes Hammack , ...
(Date:6/23/2016)... 23, 2016  Blueprint Bio, a company dedicated to ... medical community, has closed its Series A funding round, ... "We have received a commitment from Forentis ... need to meet our current goals," stated Matthew ... runway to complete validation on the current projects in ...
Breaking Biology Technology:
(Date:6/9/2016)... attendance control systems is proud to announce the introduction of fingerprint attendance control software, ... employees are actually signing in, and to even control the opening of doors. ... ... ... Photo - http://photos.prnewswire.com/prnh/20160609/377487 ...
(Date:6/2/2016)... , June 2, 2016 The Department ... has awarded the 44 million US Dollar project, for the ... Vehicle Plates including Personalization, Enrolment, and IT Infrastructure , ... in the production and implementation of Identity Management Solutions. Numerous ... however Decatur was selected for the ...
(Date:5/24/2016)... 2016 Ampronix facilitates superior patient care by providing unparalleled technology to leaders ... is the latest premium product recently added to the range of products distributed by ... ... ... LCD Medical Display- Ampronix News ...
Breaking Biology News(10 mins):