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Boston Scientific Agrees to Sell Neurovascular Business to Stryker
Date:10/28/2010

n the operations of the Neurovascular business, the planned divestiture does not meet the criteria for presentation as a discontinued operation.  Accordingly, all historical financial results of the Neurovascular business will continue to be included in the Company's results from continuing operations for all periods presented.  In periods subsequent to closing, the Company's results will include only net sales to Stryker and an immaterial amount of gross profit related to those sales.

Boston Scientific established its Neurovascular business with the acquisition of Target Therapeutics in 1997.  Headquartered in Fremont, California, the Neurovascular business is a leading developer of less-invasive medical technologies used to treat brain aneurysms and other types of cerebrovascular disease.  The business employs approximately 1,150 people and reported 2009 revenues of $348 million.

"The sale of our Neurovascular business is part of our overall strategic plan that will refocus our portfolio to, amongst other criteria, leverage existing sales forces with least invasive, cost and comparatively effective medical devices that reduce or eliminate refractory drug regimens," said Ray Elliott, President and Chief Executive Officer of Boston Scientific.  "The proceeds from this sale will allow us to invest in future growth opportunities more aligned with that strategy while also reducing overall debt leverage.""We deeply appreciate the contributions of our Neurovascular employees and wish them continued success going forward in this new venture," added Elliott.  "We believe this transaction will prove to be a win-win for all parties."

About Boston ScientificBoston 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: www.bostonscien
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SOURCE Boston Scientific Corporation
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