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SAN DIEGO--- Boston Scientific Completes Acquisition of CryoCor
Submitted by admin on 5/28/2008 @ 4:22 PM
Companies mentioned in this article:
CryoCor
Boston Scientific Corporation (NYSE:BSX) and CryoCor, Inc. (NASDAQ:CRYO) today announced that Boston Scientific has completed its acquisition of CryoCor. The transaction follows the definitive agreement announced on April 16. Under the terms of the transaction, all remaining outstanding CryoCor shares are entitled to receive $1.35 per share in cash, for a total of approximately $17.6 million. CryoCor is now an indirect, wholly-owned subsidiary of Boston Scientific.
About Boston Scientific Corporation
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.
Boston Scientific's Electrophysiology business is a leader in cardiac ablation products designed to treat common cardiac arrhythmias. Its line of Blazer , Blazer XP and Chilli II products are used to treat arrhythmias such as Atrial Flutter and Ventricular Tachycardia. The Electrophysiology business also supplies a complete line of multi-electrode diagnostic catheters, ultrasound (ICE) catheters and accessories.
About CryoCor, Inc.
CryoCor is a medical technology company that has developed and manufactures a disposable catheter system based on its proprietary cryoablation technology for the minimally invasive treatment of cardiac arrhythmias. The Company's product, the CryoCor Cardiac Cryoablation System, or the Cryoablation System, is designed to treat cardiac arrhythmias through the use of cryoenergy, or extreme cold, to destroy targeted cardiac tissue. The Cryoablation System has been approved in Europe for the treatment of atrial fibrillation, and atrial flutter, the two most common and difficult to treat arrhythmias, since 2002. In the United States, CryoCor is conducting a pivotal trial to evaluate the safety and efficacy of the Cryoablation System for the treatment of atrial fibrillation and the Cryoablation System has been approved for the treatment of right atrial flutter. For more information please visit the Company's website at http://www.cryocor.com/.