Boston Scientific buys into new area; $740 million deal will take on Medtronic.(BUSINESS)

From: Star Tribune (Minneapolis, MN) | Date: June 2, 2004| Author: | Copyright information

Byline: Janet Moore; Staff Writer

In a deal that broadens its portfolio of medical devices, Boston Scientific Corp. said Tuesday it has agreed to buy closely held Advanced Bionics Corp. for about $740 million in cash.

Now Natick, Mass.-based Boston Scientific has entered the market for neurostimulation devices, a space dominated by Fridley-based Medtronic Inc.

These devices can be used to treat chronic lower back and leg pain, and Advanced Bionics plans to enter the urinary incontinence and chronic headache markets as well.

"This is a clear signal of what we had ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

STRATEGIC FIT BOSTON SCIENTIFIC PAYS $740M FOR MICROELECTRONIC IMPLANT MAKER
Newspaper article from: The Boston Globe ; Boston Scientific Corp. yesterday...closely held Advanced Bionics Corp. of California...catheters. Meanwhile, Advanced Bionics shareholders...payments from Boston Scientific in coming years...of the deal, Boston Scientific will purchase...25 percent of ...
Firm seeks to scrap merger Boston Scientific aims to oust founder of Calif. unit
Newspaper article from: The Boston Globe ; ...the deal. Boston Scientific of Natick bought Advanced Bionics Corp. for...control of Advanced Bionics, Hellerstein...week that Boston Scientific executives...742 million Boston Scientific paid for Advanced Bionics, it also...
Boston Scientific renews fight to oust billionaire unit chief
Newspaper article from: The Boston Globe ; ...management of Advanced Bionics, a California...division of Boston Scientific that makes...he sold Advanced Bionics to Boston Scientific for $742...charge of Advanced Bionics. A Boston Scientific spokesman...
Boston Scientific eyes new fields; Reinvesting earnings from stent, it acquires microelectronics firm
Newspaper article from: The Patriot Ledger Quincy, MA ; ...headaches. Boston Scientific's chief financial...Best, said Advanced Bionics' busy patent...payout to Advanced Bionics' shareholders, which Boston Scientific estimated...percent of Advanced Bionics' shareholders...payments, Boston Scientific ...
Medical Device Firms Boston Scientific, Advanced Bionics to Merge.
Newspaper article from: Daily News (Los Angeles, CA) ; ...Calif. -- Boston Scientific Corp. announced...would acquire Advanced Bionics Corp. for...addition of the Advanced Bionics team to Boston Scientific brings an...officer of Boston Scientific, said in...statement. Advanced Bionics expects ...
BOSTON SCIENTIFIC SHARES FALL 13% SOME STOCK RATINGS, EARNINGS ESTIMATES LOWERED IN WAKE OF SUIT
Newspaper article from: The Boston Globe ; Boston Scientific Corp. shares fell $2.18, or 13...District Court in Manhattan to stop Boston Scientific, its only customer, from continuing...unspecified damages. Medinol says that Boston Scientific attempted to develop its own stent...
BOSTON SCIENTIFIC GOES SHOPPING THE NATICK MEDICAL DEVICES COMPANY IS USING PROFITS FROM ITS SUCCESSFUL TAXUS STENT (ABOVE) TO EXPAND INTO NEW AREAS.
Newspaper article from: The Boston Globe ; ...an interview on Friday, Boston Scientific has made small investments...Lomb. So far this year, Boston Scientific has announced investments...concern of investors: that Boston Scientific faces too much competition...Best said, is to move Boston Scientific to a market ...
Medical device maker Boston Scientific plans to expand market.
Newspaper article from: Knight Ridder/Tribune Business News ; ...an interview on Friday, Boston Scientific has made small investments...Lomb. So far this year, Boston Scientific has announced investments...concern of investors: that Boston Scientific faces too much competition...Best said, is to move Boston Scientific to a market ...
BOSTON SCIENTIFIC FILES COUNTERSUIT MEDINOL ACCUSED OF FRAUD, DEFAMATION, BREACH OF CONTRACT
Newspaper article from: The Boston Globe ; ...from a soured business relationship, Boston Scientific Corp. formally filed a lawsuit yesterday...harassment and verbal abuse against Boston Scientific employees. Brought in US District...went to the same court and accused Boston Scientific of stealing its technology, racketeering...
JUDGE DEALS BLOW TO STENT MAKER BOSTON SCIENTIFIC FACES SETTLEMENT OR TRIAL IN LAWSUIT
Newspaper article from: The Boston Globe ; ...federal judge yesterday ruled that Boston Scientific Corp. violated its agreements with...to determine what damages, if any, Boston Scientific owes. The ruling is a blow to Boston Scientific, which had claimed that its covert...

Find more facts and information related to the article "Boston Scientific buys into new area; $740 ..."