Boston Scientific paying $386 million for Sadra
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.