Boston Scientific Corp., Natick, Mass., has reached an agreement to sell its cardiac- and vascular-surgery divisions to the Getinge Group, a Stockholm, Sweden-based healthcare equipment company, for $750 million in cash.
Plans to sell the two divisions were announced in mid-August as part of a larger strategy for Boston Scientific to divest nonstrategic assets. Boston Scientific acquired the cardiac-surgery division, which designs and produces technology for cardiac procedures, in 2006 when it purchased Guidant. It acquired the vascular division, which develops synthetic grafts and patches for the surgical treatment of cardiac disease, in 1995. The deal, expected to close within 90 days, is subject to regulatory approval. -- by Shawn Rhea