Bos­ton Sci­en­tific pay­ing $386 mil­lion for Sadra

Modern Healthcare - - Late News -

Bos­ton Sci­en­tific said it reached a de­fin­i­tive agree­ment to ac­quire Sadra Med­i­cal, a Los Gatos, Calif.-based med­i­cal de­vice­maker for up to $386 mil­lion. Bos­ton Sci­en­tific owns a 14% stake in Sadra Med­i­cal, which was founded in 2003 and de­vel­ops aor­tic value dis­ease ther­a­pies, the com­pany said in a news re­lease an­nounc­ing the deal. Un­der the agree­ment, Bos­ton Sci­en­tific will pay $193 mil­lion up­front and up to $193 mil­lion based on reach­ing rev­enue and reg­u­la­tory mile­stones, the re­lease said. Bos­ton Sci­en­tific said the deal, which will be fi­nanced with cash, is ex­pected to close in ei­ther the 2010 fourth quar­ter or first quar­ter of 2011.

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