Navigation Links
Boston Scientific Completes Sale of Neurovascular Business
Date:1/3/2011

NATICK, Mass., Jan. 3, 2011 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has completed the sale of its Neurovascular business to Stryker Corporation.  The sale price is $1.5 billion, of which $1.45 billion was received at closing (including an upfront payment of $1.376 billion, a $50 million milestone payment associated with the commercialization of the next-generation Target™ Detachable Coils, and $24 million which will be placed into escrow to be released upon the completion of local closings in certain foreign jurisdictions).  The remaining $50 million will be payable upon the transfer or separation of certain manufacturing facilities.  The sale follows the definitive agreement announced on October 28, 2010.

The Company plans to record a pre-tax gain associated with the sale of its Neurovascular business in excess of $500 million in the first quarter of 2011, excluding any impact of the receipt of future milestone payments.  Total after-tax proceeds, assuming the achievement of these milestones, are expected to be approximately $1.2 billion.  Boston Scientific expects 2011 earnings per share, excluding the impact of the gain on the sale, to be diluted by approximately four to six cents on both a GAAP and adjusted basis.

The Company also announced that on December 31, 2010 it prepaid all $600 million of its 6.00 percent senior notes due June 15, 2011, using cash on hand.  The Company plans to record a pre-tax charge, not included in previous guidance, of approximately $15 million (approximately $9 million after tax, or $0.01 per share) in the fourth quarter of 2010 representing accelerated interest expense associated with the prepayment.

"The sale of our Neurovascular business and the prepayment of $600 million of debt significantly strengthen our financial flexibility and enhance our cap
'/>"/>

SOURCE Boston Scientific Corporation
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related medicine technology :

1. Boston Scientific to Present at 29th Annual J.P. Morgan Healthcare Conference
2. Boston Scientific Announces Election of Dr. Kristina M. Johnson to its Board of Directors
3. Boston Scientific Welcomes Publication of Analysis of Patients Monitored by the LATITUDE® Patient Management System
4. EvaluatePharma USA, Inc. Welcomed Into Boston Biotech Community by Mayor Menino
5. SIGVARIS Provides Red Socks to Honor Efforts by Boston Red Sox Manager, Terry Francona, to Raise Awareness for DVT Prevention
6. PAREXEL International to Participate in the Lazard Capital Markets Healthcare Conference in New York and the Jefferies Healthcare Summit in Boston
7. Boston Scientific Agrees to Sell Neurovascular Business to Stryker
8. Boston Scientific Completes Acquisition of Asthmatx
9. Boston Scientific Announces CE Mark Approval for Expanded Indication of WallFlex® Biliary RX Stent
10. Boston Scientific Announces FDA Clearance and CE Mark Approval for Advanix™ Biliary Stents
11. Boston Scientific Announces Results for Third Quarter Ended September 30, 2010
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2014)... As health officials across the Midwest warn against the widespread ... Michigan will offer free diagnostic testing for ... to administer tests and, in some cases, fill the matching ... the study. The Grand Rapids, Mich. ...
(Date:1/15/2014)... Texas , Jan. 15, 2014  Novation, the leading ... awarded several new IT value-added reseller (VAR) national contracts ... IT goods and services at lower costs. These include ... services such as initiative assistance and ongoing IT consulting ...
(Date:1/15/2014)... Calif. , Jan. 15, 2014 Massachusetts ... (NASDAQ: AMGN ) announced today that ... discover and validate new therapeutic targets and develop ... chronic disorder that affects millions worldwide. The MGH-Broad-Amgen ...
Breaking Medicine Technology:Meijer Pharmacy Offers Free Flu, Strep Testing as Influenza Cases Rise Across the Midwest 2Meijer Pharmacy Offers Free Flu, Strep Testing as Influenza Cases Rise Across the Midwest 3New Novation Information Technology VAR Contracts Offer Significant Savings to Hospitals 2Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 2Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 4
... GlySure Limited, developer of in-hospital continuous blood glucose ... million Series C financing round. GlySure will use this ... the United States and Europe. The financing ... existing investors Amadeus Capital Partners, Chester Investments and Delta ...
... 9, 2012  Stemline Therapeutics, Inc., a clinical stage biopharmaceutical ... cells (CSCs), today announced that Eric K. Rowinsky, M.D. ... Medical Officer and Head of Research and Development. Dr. ... the Company,s two clinical stage drug candidates, SL-401 and ...
Cached Medicine Technology:GlySure Secures $10.9 Million in Series C Financing Round 2Stemline Therapeutics, Inc. Names Eric K. Rowinsky, M.D. Chief Medical Officer and Head of Research and Development 2Stemline Therapeutics, Inc. Names Eric K. Rowinsky, M.D. Chief Medical Officer and Head of Research and Development 3
(Date:7/13/2014)... Hills, California (PRWEB) July 13, 2014 ... Danny Musico has formed a promotional partnership with Aqua ... plant based Omega-3 EPA supplement . The collaboration ... is a celebrity fitness trainer , actor, model, ... Hollywood’s go-to trainer for A-List celebrities, he has prepared ...
(Date:7/13/2014)... Wa (PRWEB) July 13, 2014 According ... Vkool.com, this is a comprehensive program that teaches people ... peripheral neuropathy without medications. This program also ... relieving symptoms of peripheral neuropathy , including numbness, prickling, ... in its review that this home treatment program can ...
(Date:7/12/2014)... 13, 2014 Recently, Fadhits.com, a well-known wedding ... elegant long graduation dresses to its product line. ... its loyal clients. It wants to bring more benefits for ... now offered at discounted prices, up to 72% off. , ... always working hard. Its online shop is a good place ...
(Date:7/12/2014)... July 12, 2014 Fresh off their respective ... will meet on September 5th at Sun Life Stadium ... to see some of the brightest stars in the world ... in Miami will be treated to some of the best ... currently ranked as the third best team in the world ...
(Date:7/12/2014)... (PRWEB) July 12, 2014 ... & Peripheral Vascular Devices Market by ... Drug-Eluting), Catheter (IVUS, OCT), IVC Filter ... to 2018" analyzes and studies the ... in the U.S. and Canada. , ...
Breaking Medicine News(10 mins):Health News:Celebrity Fitness Expert Supports Revolutionary New Health Supplement 2Health News:The Peripheral Neuropathy Program Review Exposes Randall Labrum's Peripheral Neuropathy Treatment Program – Vkool.com 2Health News:The Peripheral Neuropathy Program Review Exposes Randall Labrum's Peripheral Neuropathy Treatment Program – Vkool.com 3Health News:New Collection of Long Graduation Dresses Revealed by Fadhits.com 2Health News:Brazil Vs. Colombia Tickets Sun Life Stadium: Ticket Down Slashes Ticket Prices for Friendly Match Between Colombia and Brazil 2Health News:Brazil Vs. Colombia Tickets Sun Life Stadium: Ticket Down Slashes Ticket Prices for Friendly Match Between Colombia and Brazil 3Health News:North American Interventional Cardiology & Peripheral Vascular Devices Market - New Report by MarketsandMarkets 2Health News:North American Interventional Cardiology & Peripheral Vascular Devices Market - New Report by MarketsandMarkets 3Health News:North American Interventional Cardiology & Peripheral Vascular Devices Market - New Report by MarketsandMarkets 4Health News:North American Interventional Cardiology & Peripheral Vascular Devices Market - New Report by MarketsandMarkets 5
... impose a huge burden on industrialized societies, in terms ... costs related to back pain in the United States ... year. , But a systematic review of the literature ... of The Spine Journal finds exercise in ...
... The Sher Institutes of Reproductive Medicine (SIRM) announced today ... Plan that guarantees qualified IVF patients a baby ... medical fees. CGH is an acronym for Comparative Genomic ... egg or embryo prior to it being transferred to a ...
... (SCA), one of the country,s largest providers of specialty ... a joint venture relationship with Hawaii Pacific Health to ... downtown Honolulu.Under the terms of the partnership, SCA will ... at 550 South Beretania Street to a new location ...
... Calif., March 5 Grubb & Ellis Healthcare ... Medical Office Buildings Portfolio, an aggregate of four ... area. With buildings in Menomonee Falls, Milwaukee, ... 185,000 square feet of gross leaseable area. "This ...
... 5 Karen Ignagni, President and CEO of America,s ... the White House Health Care Summit:"We were honored to ... bringing together a broad range of policymakers and stakeholders ... President has initiated a transparent, inclusive reform process just ...
... ROCKVILLE, Md., March 5 Americans and nonprofit organizations ... of these circumstances, The Larry King Cardiac Foundation (LKCF), ... for individuals with no health insurance, has announced that ... 2009.In lieu of its annual black tie gala held ...
Cached Medicine News:Health News:Clinical trials' review finds only exercise to prevent low-back problems 2Health News:New DNA Test Is Basis for Groundbreaking IVF Refund Plan, Easing Financial Burden for Patients 2Health News:New DNA Test Is Basis for Groundbreaking IVF Refund Plan, Easing Financial Burden for Patients 3Health News:Surgical Care Affiliates and Hawaii Pacific Health to Operate Surgery Center 2Health News:Grubb & Ellis Healthcare REIT Acquires 185,000 SF Wisconsin Medical Office Buildings Portfolio 2Health News:Grubb & Ellis Healthcare REIT Acquires 185,000 SF Wisconsin Medical Office Buildings Portfolio 3Health News:The Larry King Cardiac Foundation Brings its Annual Gala to Homes Across the Nation 2Health News:The Larry King Cardiac Foundation Brings its Annual Gala to Homes Across the Nation 3
... The Sunnex Celestial ... for surgical applications. The ... easy angling and positioning. ... ideal for many facilities ...
Advanced Lighting System with Multi-Lamp Design providing Surgeon Focus Control and Extended, Variable Depth of Field over greater working distances. High Intensity, Cool Beam Temperature...
The Next Generation in Single Lamp Technology, Advanced Optics & Reflector Design, Extended Depth of Field, 54" Useable Column of Light, High Intensity, Cool Beam Temperature...
... technology that precisely focuses a column ... surgical site. Patented prism based technology ... illumination, shadow control, heat management and ... PrismAlix Series is available in a ...
Medicine Products: