Boston Scientific to acquire Cardiac Pathways Corp
Boston Scientific Corp has signed a definitive agreement to acquireCardiac Pathways Corp, in an all-cash deal worth approximately $115 million. The transaction is expected to close in the third quarter of 2001 and Boston Scientific expects the acquisition to be modestly dilutive to earnings in 2001.
The company said that the acquisition will strengthen and broaden its product range in electrophysiology. Cardiac Pathways, which was founded in 1991 and has its headquarters in Sunnyvale, California, USA, manufactures minimally-invasive systems used to diagnose and treat cardiac tachyarrhythmias. Its sales for the fiscal year ending June 30 are expected to be $13 million, nearly double the figure for last year.
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