Boston Scientific acquires novel technologies for treatment of peripheral chronic total occlusions

Boston Scientific Corporation (NYSE: BSX) today announced the acquisition of two novel technologies to treat peripheral chronic total occlusions (CTOs).  These acquisitions add technology platforms that complement the Company's world-class portfolio of devices for lower extremity peripheral artery disease.  

Boston Scientific acquired a re-entry catheter in November 2010 from S.I. Therapies, Ltd., based in Israel.  The Company will also acquire an intraluminal CTO crossing device through its acquisition of Sunnyvale, CA-based ReVascular Therapeutics, Inc., which is expected to close this month.  Worldwide launches of these devices in approved markets are planned later this year.  

"Having used both devices, I am impressed with their simplicity and effectiveness," said Dierk Scheinert, M.D., Heart Center Leipzig, and Professor of Medicine at the University of Leipzig.  "Access to these technologies will greatly enhance therapeutic options and provide physicians with new, intuitive solutions for treating challenging CTOs."

A CTO, which represents a complete artery blockage, typically cannot be treated with standard endovascular devices such as guidewires and other catheter-based technologies.  CTO devices permit endovascular treatment in cases that otherwise might require a patient to undergo surgery or lower extremity amputation.  By offering both a re-entry and intraluminal crossing device, Boston Scientific will be well positioned to help physicians address the challenges of treating complex peripheral lesions.

"The purchase of these innovative CTO technologies demonstrates a continued commitment to expanding our peripheral interventions business," said Joe Fitzgerald, Senior Vice President and President of Boston Scientific's Endovascular Unit.  "Not only will they augment our products for treating patients with lower extremity peripheral artery disease, but they will strengthen our clinical relationships with customers by offering them additional ways to deliver patient care."

"These acquisitions demonstrate our continued strategic execution of realigning and strengthening our portfolio in areas with high-growth potential," said Ray Elliott, President and Chief Executive Officer of Boston Scientific.  "Our Priority Growth Initiatives include peripheral vascular disease, in which a significant number of patients remain undiagnosed or untreated.  Addressing these challenges through use of less-invasive devices could greatly improve the care these patients receive."  

Together, the transactions are expected to have an immaterial impact on GAAP and adjusted earnings in 2011 and 2012 and be accretive thereafter.  Transactional financial terms were not disclosed.  

SOURCE Boston Scientific Corporation