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News Breaks
May 7, 2014
03:19 EDTBSXBoston Scientific acquires IoGyn
Boston Scientific has signed a definitive agreement to acquire IoGyn, a pre-commercial stage company. The transaction is expected to close within days. IoGyn has developed and received U.S. Food and Drug Administration, FDA, clearance for the Symphion System, a next generation system for hysteroscopic intrauterine tissue removal including fibroids and polyps. This acquisition enables the pairing of the Symphion System with the Boston Scientific Genesys HTA System for abnormal uterine bleeding, to create a compelling set of gynecologic surgery products.Prior to the acquisition, Boston Scientific held approximately 28% equity ownership, in addition to notes receivable of approximately $8M. Total consideration included a net cash payment of approximately $65M at closing to acquire the remaining 72% of IoGyn and repay outstanding debt. Boston Scientific expects the transaction to have an immaterial impact on its adjusted earnings per share in 2014 and 2015, and to be accretive starting in 2016. On a GAAP earnings per share basis, Boston Scientific expects the transaction to be slightly accretive in 2014 as a result of a non-cash acquisition-related gain on its previously held equity investment, immaterial in 2015 and 2016, and to be less accretive than adjusted earnings per share thereafter as a result of acquisition-related net charges and amortization, which will be determined following the closing.
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05:47 EDTBSXStocks with implied volatility movement; BSX T
Stocks with implied volatility movement; Boston Scientific (BSX) 49, AT&T (T) 20 according to iVolatility.

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