BSX-Guidant Deal Is Second Biggest Of The Decade
Boston Scientific's $27.2 billion purchase of Guidant Corp. in 2005 was the second-largest medical device deal of the decade, according to DealSearchOnline.com.
The web site ranked the most expensive mergers and acquisitions in the medical device industry from 2000 to 2009. The Natick medical device manufacturer's purchase of Guidant ranked second behind Novartis' $39 billion acquisition of Nestle SA's interest in Alcon, which is still ongoing.
Boston Scientific's purchase has come under criticism and the company in late 2009 paid $22 million to settle a suit with the U.S. Department of Justice regarding Guidant.
Other deals making the list include: Thermo Electron Corporation purchasing Fisher Scientific for $12.8 billion; Abbott Laboratories' $4.1 billion 2006 purchase of Guidant's vascular division and Abbott's $2.8 million deal in 2006 for Advanced Medical Optics.
The web site estimates $300 billion was spent on mergers and acquisitions in the medical device sector during the 10-year period.
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