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Boston Scientific Sells Off Another Unit

Boston Scientific announced that it has sold off its aortic repair unit, reports the Boston Globe. The firm has been selling off its nonstrategic assets as part of an effort to pay down debt incurred from its purchase of Guidant. The buyer of Boston Scientific Santa Rosa Corp., formerly known as TriVascular Inc., is TV2 Holding Co. Boston Scientific will receive $30 million and a warrant allowing it to purchase a minority stake in TV2. Boston Scientific had purchased TriVascular in 2005.

March 31, 2008

1 Min Read
Boston Scientific Sells Off Another Unit

Boston Scientific announced that it has sold off its aortic repair unit, reports the Boston Globe. The firm has been selling off its nonstrategic assets as part of an effort to pay down debt incurred from its purchase of Guidant. The buyer of Boston Scientific Santa Rosa Corp., formerly known as TriVascular Inc., is TV2 Holding Co. Boston Scientific will receive $30 million and a warrant allowing it to purchase a minority stake in TV2. Boston Scientific had purchased TriVascular in 2005.

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