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Transaction Would Advance Company's Plan to Divest Non-Strategic Assets and
Strengthen Operating and Financial Performance
NATICK, Mass., Aug. 16 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced its intention to explore the sale of its Cardiac Surgery and Vascular Surgery businesses as part of the Company's plan to review its portfolio of assets and divest those considered non- strategic, and to strengthen its operating and financial performance.
"As part of an ongoing review of our assets, we have initiated a process to explore the sale of our Cardiac Surgery and Vascular Surgery businesses," said Paul LaViolette, Chief Operating Officer of Boston Scientific. "If finalized, this sale will support our efforts to focus resources on our core businesses and improve our operating and financial performance. These are strong businesses, and we believe the combined portfolio has great potential for success with the focused attention and resources of external ownership. We are in discussions with several potential buyers, and we expect the process to take a number of months."
"This is another step in the progress we are making on our plan to
divest non-strategic assets, monetize our investment portfolio and bring
our expenses and head count in line with our revenues," added LaViolette.
"We have now identified three non-strategic businesses to divest, and we
are in discussions with potential buyers for all three. In recent months we
have retained our Endosurgery group, entered into an agreement to assume
sole management and control of our pain management business from Advanced
Bionics and sell the Advanced Bionics auditory business, monetized parts of
our portfo
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SOURCE Boston Scientific Corporation Copyright©2007 PR Newswire. |
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