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News

Getinge to acquire Boston Scientific's cardiac surgery and vascular surgery businesses

Boston Scientific : 05 November, 2007  (New Product)
A definitive agreement has been signed by Boston Scientific for the sale of its Cardiac Surgery and Vascular Surgery businesses to the Getinge Group.
The transaction will be for a cash price of $750 million and is expected to close
within the next 45-90 days, subject to regulatory approvals and customary
conditions. Boston Scientific announced its intent to sell the Cardiac Surgery and
Vascular Surgery businesses on August 16 2007.

Boston Scientific acquired the Cardiac Surgery business in April 2006 as part
of the Guidant transaction. The Cardiac Surgery business is a leading
developer of medical technologies designed for use in surgical cardiac
procedures, including beating-heart bypass surgery systems and endoscopic
vessel harvesting for coronary bypass surgery. The business employs
approximately 450 people.

Boston Scientific acquired the Vascular Surgery business in 1995. The Vascular Surgery business develops synthetic grafts and patches used to surgically treat vascular disease, including the repair of abdominal aortic aneurysms and peripheral vascular anatomy. The business has approximately 250 employees. The combined revenues of the two businesses in 2006 were approximately $275 million.

'Working with the talented employees of the Cardiac Surgery and Vascular
Surgery businesses, our goal is to drive growth and bring new technologies to
these markets, ultimately benefiting cardiac and vascular surgeons and their
patients,' said Johan Malmquist, president and chief executive officer of the
Getinge Group of Stockholm, Sweden. 'We are excited to complement our
existing portfolio with these valuable businesses, each of which brings
leading market positions and impressive product lines.'

'This transaction completes a previously announced element of our plan to
divest non-strategic assets, focus on our core businesses and increase
shareholder value,' said Jim Tobin, president and chief executive officer of
Boston Scientific. 'We deeply appreciate the contributions our Cardiac
Surgery and Vascular Surgery employees have made to Boston Scientific, our
customers and their patients. We know they will continue to serve customers
and patients well going forward.'
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