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:8/31/2015)... Pepperl+Fuchs, a world leader in process ... leading provider of HART protocol devices. The move ... its integrated solutions offerings and strengthen its position ... are pleased to add the MACTek WirelessHART product ... Bolin , Pepperl+Fuchs, executive vice president of the ...
(Date:8/31/2015)... 2015 Thousands of people will peacefully demonstrate ... opioid addiction epidemic at dozens of rallies across the ... the United States has experienced ... opioids and heroin, yet the President has never once ... letter to President Obama , rally organizers compared ...
(Date:8/31/2015)... York , August 31, 2015 ... states that the global cardiovascular monitoring and diagnostic ... and is predicted to reach a value of ... CAGR of 9.7% between 2013 and 2019. The ... Diagnostic Devices Market (ECG, Holter Monitors, Event Monitors, ...
Breaking Medicine Technology:Obama Administration's Neglect of Opioid Crisis Prompts Rallies in Many States 2Cardiovascular Monitoring and Diagnostic Devices Market to Reach US$7.0 Billion in 2019 Owing to Global Rise in Diabetes and Obesity: Transparency Market Research 2Cardiovascular Monitoring and Diagnostic Devices Market to Reach US$7.0 Billion in 2019 Owing to Global Rise in Diabetes and Obesity: Transparency Market Research 3Cardiovascular Monitoring and Diagnostic Devices Market to Reach US$7.0 Billion in 2019 Owing to Global Rise in Diabetes and Obesity: Transparency Market Research 4Cardiovascular Monitoring and Diagnostic Devices Market to Reach US$7.0 Billion in 2019 Owing to Global Rise in Diabetes and Obesity: Transparency Market Research 5
(Date:9/1/2015)... , ... September 01, 2015 , ... The FSH ... incurable disease, facioscapulohumeral muscular dystrophy (FSHD), will be the beneficiary of a collection of ... mission – to raise awareness of the FSH Society and further FSHD research. ...
(Date:9/1/2015)... , ... September 01, 2015 , ... Agriculture innovation, urban ... few of the topics to be discussed at Seedstock’s 4th Annual Sustainable Agriculture ... at UC San Diego. , In addition to keynotes Pierre Sleiman, founder and ...
(Date:9/1/2015)... ... September 01, 2015 , ... METTLER TOLEDO has announced an ... GMP requirements“ , featuring Ed Szczesny (Quality Assurance, Rhodes Pharmaceuticals) as guest presenter. ... GMT). , Calibration, qualification, and the appropriate level of routine testing for ...
(Date:9/1/2015)... York, NY (PRWEB) , ... September 01, 2015 ... ... chosen as the 2015-2016 Distinguished Nurse Scholar-in Residence at the Institute of Medicine ... and Professor of Biomedical Informatics at Columbia University School of Nursing. A member ...
(Date:9/1/2015)... (PRWEB) , ... September 01, 2015 , ... ... date, more than 1,500 investor-families have received permanent green cards (I-829 petition approval) ... , The I-829 petition is the final step of the EB-5 visa process ...
Breaking Medicine News(10 mins):Health News:FSH Society Beneficiary of Variety of Fall Fundraising Events 2Health News:FSH Society Beneficiary of Variety of Fall Fundraising Events 3Health News:Experts in Urban and Local Food Systems Development to Address Seedstock Sustainable Agriculture Conference Nov. 3-4 Discounted ticket sales end Sept. 4 2Health News:Experts in Urban and Local Food Systems Development to Address Seedstock Sustainable Agriculture Conference Nov. 3-4 Discounted ticket sales end Sept. 4 3Health News:Experts in Urban and Local Food Systems Development to Address Seedstock Sustainable Agriculture Conference Nov. 3-4 Discounted ticket sales end Sept. 4 4Health News:Experts in Urban and Local Food Systems Development to Address Seedstock Sustainable Agriculture Conference Nov. 3-4 Discounted ticket sales end Sept. 4 5Health News:Live Webinar from Pharmaceutical Technology and METTLER TOLEDO on Calibration and Qualification of Laboratory Instruments 2Health News:Columbia Nursing’s Suzanne Bakken Named Distinguished Institute of Medicine Nurse Scholar-in-Residence 2Health News:CanAm Enterprises Reaches Another Milestone with More Than 1,500 I-829 Petition Approvals 2
... book that has just been realised would help women in ... author, who is also a practising urologist, has said that ... in their community, while many plan their outing with necessary ... many of the conditions that cause the women to suffer ...
... James, the British chairman of the International Obesity Task ... the obesity epidemic in poor countries. ,"The ... which subsidize and distort the market to make fats ... James said at the 10th International Obesity Congress in ...
... carbon monoxide is used, according to Bainbridge et ... monoxide inhibits // hypoxia/reoxygenation-induced apoptosis and secondary necrosis ... September issue of The American Journal of Pathology., ... 5-7% of pregnancies and poses serious risks for ...
... President A.P.J. Abdul Kalam Monday inaugurated the 150th anniversary ... of the oldest //and most prestigious educational institutions in ... called for moral leadership and greater research. "Good teaching ... research it produces," Kalam told students and academics here. ...
... in Kolkata was forced to abort her fetus on her own ... know about her status. //The incident occurred last month in a ... of a two-year-old child, as saying it was tough since nobody ... me as I had to pull out the fetus with my ...
... doctor in a Bihar village was Monday battling for life after ... a snake had died during treatment. // ,Dr. Satish ... life at Sursand in Sitamarhi district, was in a coma, officials ... was vandalised and set on fire by furious crowds. ...
Cached Medicine News:Health News:A Just Published Book Promises To Guide Women Regarding Their Frequent UTI’ 2Health News:Carbon Monoxide May Prevent Pre-Eclampsia 2Health News:President Launches Madras University's 150th Year Celebrations 2
Complete Blink-N-Clean lens drops cleans and clears lenses in a blink. It is a unique blend of gentle to the eye ingredients that conveniently cleans, clears and keeps lenses feeling comfortable thro...
... preservative free lubricating and rewetting ... eyes while you're wearing soft ... free formula is ideal for ... to preservatives and for frequent ...
Saline Solution to rinse and store soft contact lenses and for heat disinfection....
Sensitive Eyes Plus Saline Solution to rinse soft contact lenses The unique, gentle, pH-balanced formula contains potassium, an ingredient found in tears....
Medicine Products: