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    Boston Scientific Closes Acquisition of Augmenix, Inc.

    MARLBOROUGH, Mass., Oct. 16, 2018 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced the close of its acquisition of Augmenix, Inc., a privately-held company that developed and commercialized the SpaceOAR® Hydrogel System to help reduce common and debilitating side effects that men may experience after receiving radiotherapy to treat prostate cancer. The biodegradable SpaceOAR hydrogel is injected between the rectum and prostate to decrease a patient's exposure to rectal radiation and thereby reduce rectal radiation injury – one of the most common complications of prostate radiotherapy. 

    Boston Scientific Corporation (PRNewsFoto/Boston Scientific Corporation) (PRNewsFoto/Boston Scientific Corporation)

    "This close marks the third completed acquisition in 2018 for the company's Urology and Pelvic Health portfolio, further building upon our substantial momentum in this category," said Dave Pierce, executive vice president and president, MedSurg, Boston Scientific. "The addition of the SpaceOAR Hydrogel System, which has been used in over 30,000 patients worldwide and reviewed by more than 55 peer-reviewed publications, continues to strengthen our leadership in prostate health."

    The addition of the SpaceOAR Hydrogel System reinforces the company's commitment to prostate health with a solution that addresses the need to protect healthy organs at risk (OAR) during prostate cancer radiotherapy. The SpaceOAR Hydrogel System will also expand the company's prostate health portfolio, which includes therapies to treat benign prostatic hyperplasia, including the Rezūm® System, the GreenLight XPS Laser Therapy System and holmium laser platforms.

    Boston Scientific announced a definitive agreement to acquire Augmenix on September 6, 2018 for $500 million in up-front cash and up to $100 million for reaching sales-based milestones.

    About Boston Scientific
    Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 35 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our business plans, regulatory approvals, product development and product performance and impact. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. 

    Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.

    Use of Non-GAAP Financial Measures

    To supplement our consolidated financial statements presented on a GAAP basis, we disclose certain non-GAAP financial measures, including adjusted net income and adjusted net income (earnings) per share that excludes certain charges and/or credits, such as amortization expense and acquisition-related net charges (credits). These non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States and should not be considered in isolation from or as a replacement for the most directly comparable GAAP financial measures. Further, other companies may calculate these non-GAAP financial measures differently than we do, which may limit the usefulness of those measures for comparative purposes. For further information regarding our non-GAAP measures, see Part II, Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report on Form 10-K, which we may update in Quarterly Reports on Form 10-Q we have filed or will file hereafter.

    CONTACTS
    Abhi Basu
    Media Relations
    508-683-4797 (office)
    Abhi.Basu@bsci.com

    Susie Lisa, CFA
    Investor Relations
    508-683-5565 (office)
    BSXInvestorRelations@bsci.com

     

    SOURCE Boston Scientific Corporation