Boston Scientific May Sell Cardiac Surgery and Vascular Surgery Businesses

Boston Scientific announced it will explore the sale of its cardiac surgery and vascular surgery businesses as part of its plan to divest nonstrategic assets.

“This is another step … [to] bring our expenses and head count in line with our revenues," Chief Operating Officer Paul LaViolette said. In addition, the company will continue to focus on the recovery of the drug-eluting stent and cardiac rhythm management markets, he said.

Boston Scientific acquired the cardiac surgery business in April 2006 as part of the Guidant transaction. Headquartered in San Jose, Calif., with a manufacturing facility in Dorado, Puerto Rico, the business employs approximately 450 people and had 2006 revenues of $189 million.

Boston Scientific established its vascular surgery business with the acquisition of Meadox Medicals in 1995. The business had 2006 revenues of $86 million and has approximately 250 employees, primarily located at its manufacturing site in Wayne, N.J.