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Boston Scientific to Acquire Atritech
Date:1/19/2011

NATICK, Mass., Jan. 19, 2011 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced the signing of a definitive merger agreement, under which the Company will acquire Atritech, Inc., a privately held company based in Plymouth, Minnesota.  Atritech has developed a novel device designed to close the left atrial appendage in patients with atrial fibrillation who are at risk for ischemic stroke.  The agreement calls for an upfront payment of $100 million plus additional potential payments of up to $275 million upon achievement of specified regulatory and revenue-based milestones through 2015.  The purchase price assumes no cash and no debt on Atritech's balance sheet at closing.  The upfront payment is expected to be funded with cash on hand.  Boston Scientific expects the transaction to be approximately one to two cents dilutive to earnings per share (EPS) on a GAAP basis in 2011, 2012 and 2013, and accretive thereafter; on an adjusted basis, the transaction is expected to be approximately one cent dilutive to EPS in 2011 and 2012, and accretive thereafter.  The difference between the estimated impact on GAAP and adjusted EPS relates to amortization expense on acquired intangible assets and the accrual of contingent consideration expense, which are excluded by the Company for purposes of measuring adjusted EPS.  Closing of the transaction is subject to customary conditions and is expected to be completed in the first quarter of 2011.

The Atritech WATCHMAN® Left Atrial Appendage Closure Technology is the first device proved in a randomized clinical trial to offer an alternative to anticoagulant drugs -- which are associated with an increased risk of bleeding -- for patients experiencing atrial fibrillation who are at high risk for stroke.  Patients with atrial fibrillation are prone to developing blood clots in an are
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