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Boston Scientific Tries to Get Back on Track

There's been a whirlwind of activity at Boston Scientific this summer, and it hasn't all been good. The company is fighting debt and in the past month alone has announced plans to sell three of its entities--its vascular and cardiac surgery units, along with part of Advanced Bionics. In efforts to cut costs, it's considering making job cuts as well.

Now, as Boston Scientific tries to get back on track, it has negotiatied loan agreements and made a $1 billion early loan payment. The prepayment was made on a $5 billion term loan. According to the comapny's CEO, Jim Tobin, the payment should provide "significant financial flexibility."

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