Boston Scientific Announces Sale of Cardiac Surgery and Vascular Surgery ...( NATICK Mass. Nov. 5 /- Boston Sci...),Health

NATICK, Mass., Nov. 5 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced the signing of a definitive agreement for the sale of its Cardiac Surgery and Vascular Surgery businesses to the Getinge Group, a global provider of healthcare equipment and systems. The transaction will be for a cash price of $750 million and is expected to close within the next 45-90 days, subject to regulatory approvals and customary conditions. The Company announced its intent to sell the Cardiac Surgery and Vascular Surgery businesses on August 16, as part of its plan to divest non- strategic assets and increase shareholder value.

Boston Scientific acquired the Cardiac Surgery business in April 2006 as part of the Guidant transaction. The Cardiac Surgery business is a leading developer of medical technologies designed for use in surgical cardiac procedures, including beating-heart bypass surgery systems and endoscopic vessel harvesting for coronary bypass surgery. The business employs approximately 450 people. Boston Scientific acquired the Vascular Surgery business in 1995. The Vascular Surgery business develops synthetic grafts and patches used to surgically treat vascular disease, including the repair of abdominal aortic aneurysms and peripheral vascular anatomy. The business has approximately 250 employees. The combined revenues of the two businesses in 2006 were approximately $275 million.

"Working with the talented employees of the Cardiac Surgery and Vascular Surgery businesses, our goal is to drive growth and bring new technologies to these markets, ultimately benefiting cardiac and vascular surgeons and their patients," said Johan Malmquist, President and Chief Executive Officer of the Get
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