February 14, 2008
BSX Completes Sale Of Two 'Non-Strategic' Businesses
By Cory Hopkins
Natick medical device manufacturer Boston Scientific Corp. has completed the $425 million sale of two of its businesses to New York and Texas-based Avista Capital Partners .
The fluid management and venous access businesses were sold to Avista for $425 million in cash, following a December agreement between the companies.
BSX said it expects to record an after-tax profit of approximately $120 million in the first quarter of this year in connection with the sale.
The sale of the fluid management and venous access businesses completes the company's previously announced plans to divest five "non-strategic" businesses in order to help increase shareholder value and bring the company back into the black, the company said.
The fluid management and venous access businesses were sold to Avista for $425 million in cash, following a December agreement between the companies.
BSX said it expects to record an after-tax profit of approximately $120 million in the first quarter of this year in connection with the sale.
The sale of the fluid management and venous access businesses completes the company's previously announced plans to divest five "non-strategic" businesses in order to help increase shareholder value and bring the company back into the black, the company said.
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