Healthcare Industry News: Boston Scientific
News Release - October 26, 2010
Boston Scientific Completes Acquisition of AsthmatxNATICK, Mass., Oct. 26 (Healthcare Sales & Marketing Network) -- Boston Scientific Corporation (NYSE:BSX ) today announced the completion of its acquisition of Asthmatx, Inc. of Sunnyvale, California. The transaction follows the definitive agreement announced on September 20. Under the terms of the agreement, Boston Scientific purchased all outstanding Asthmatx shares for a total of $193.5 million. Additional payments of up to $250 million are contingent upon achievement of specified revenue-based criteria through 2019. Asthmatx is now an indirect, wholly-owned subsidiary of Boston Scientific.
Asthmatx designs, manufactures and markets the Alair® Bronchial Thermoplasty System, a catheter-based procedure for the treatment of severe persistent asthma in the 6 to 8 million patients 18 years and older worldwide whose asthma is not well controlled with drugs (inhaled medications). The Alair System received U.S. Food and Drug Administration (FDA) approval in April, and is the first device-based asthma treatment approved by the FDA. Clinical data indicate bronchial thermoplasty is safe and effective in the management of severe asthma and leads to significantly fewer severe asthma exacerbations, an 84 percent reduction in emergency room visits and a trend toward decreased hospitalizations.
About Boston Scientific
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: www.bostonscientific.com.
Asthmatx Inc. is a privately-held medical device company focused on helping patients breathe easier. Asthmatx has developed a catheter-based outpatient procedure that provides long-lasting and improved asthma control for adult severe asthma patients. For more information, please visit www.BTforAsthma.com or www.bronchialthermoplasty.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding new product launches and launch cadence, regulatory approvals, clinical trials, product performance and competitive offerings. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and, future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.
Source: Boston Scientific
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