Boston Scientific Completes Acquisition of Asthmatx
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Boston Scientific Corp.
One Boston Scientific Place
Natick, MA, 01760
Press release date: October 26, 2010
NATICK, Mass., Oct. 26 -- 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 AlairŽ 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.
SOURCE Boston Scientific Corporation
CONTACT: Paul Donovan 508-650-8541 (office) 508-667-5165 (mobile) Media Relations Boston Scientific Corporation
Larry Neumann 508-650-8696 (office) Investor Relations Boston Scientific Corporation
Web Site: http://www.bostonscientific.com