NATICK, Mass., July 24 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced its intention to explore the sale of its fluid management business as part of the Company's ongoing review of its portfolio of assets. The Boston Scientific fluid management business, formerly North American Medical Instruments Corp. (NAMIC), produces a range of products used to manage fluid and measure pressure during angiography and angioplasty procedures. A sale would be expected to include the business as well as the Company's facilities in Glens Falls, New York and Tullamore, Ireland.
"As we have previously announced, we are conducting a comprehensive review of our non-strategic assets in an effort to focus resources on our core businesses and improve our financial strength," said Paul LaViolette, Chief Operating Officer of Boston Scientific. "One result of this review has been the initiation of a process to explore the sale of our fluid management business. This is a very strong business with market leadership, and we believe it has tremendous potential with the focused attention and resources of external ownership. We are in the early stages of discussions with several potential acquirers, and we expect the process to take a number of months."
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com/.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be a sale of any securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws.
This press release contains forward-looking statements. Boston Scientific wishes to caution the reader of this press release that actual results may differ materially from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with potential divestiture transactions, risks associated with product development and commercialization, regulatory approvals, competitive offerings, Boston Scientific's overall business strategy, and other factors described in Boston Scientific's filings with the Securities and Exchange Commission.
CONTACT: Paul Donovan 508-650-8541 (office) 508-667-5165 (mobile) Media Relations Boston Scientific Corporation Dan Brennan 508-650-8538 (office) 617-459-2703 (mobile) Investor Relations Boston Scientific Corporation
SOURCE: Boston Scientific Corporation
CONTACT: Media: Paul Donovan, +1-508-650-8541 (office), +1-508-667-5165
(mobile), or Investor Relations: Dan Brennan, +1-508-650-8538 (office),
+1-617-459-2703 (mobile), both of Boston Scientific Corporation
Web site: http://www.bostonscientific.com/