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Boston Scientific to Acquire Asthmatx
Date:9/20/2010

NATICK, Mass. and SUNNYVALE, Calif., Sept. 20 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced the signing of a definitive merger agreement, under which Boston Scientific will acquire Asthmatx, Inc., a privately held company in Sunnyvale, California.  Asthmatx designs, manufactures and markets a less-invasive, catheter-based bronchial thermoplasty procedure for the treatment of severe persistent asthma in the 6 to 8 million patients 18 years and older worldwide whose asthma is not well controlled with drugs (inhaled medications).  The agreement calls for an upfront payment of $193.5 million and additional payments of up to $250 million contingent upon achievement of specified revenue-based criteria through 2019.  The upfront payment is expected to be funded with cash on hand.  Boston Scientific expects the transaction to be approximately two cents dilutive to GAAP earnings per share (EPS) in each of 2011 and 2012 (inclusive of approximately one cent per share of amortization expense), break-even in 2013 and accretive thereafter.  Closing of the transaction is subject to customary conditions and is expected to be completed in the fourth quarter.

Asthmatx markets the Alair® Bronchial Thermoplasty System, which received U.S. Food and Drug Administration (FDA) approval in April of this year.  Bronchial thermoplasty is a less-invasive procedure routinely performed under conscious sedation with patients typically returning home the same day.  The Alair System delivers thermal energy to the airway wall in a precisely controlled manner to reduce excessive airway smooth muscle.  The procedure is designed to decrease the ability of the airways to constrict, thereby reducing the frequency and severity of asthma attacks.  Clinical data show bronchial thermoplasty is safe and effective in the ma
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