Boston Scientific Acquires EndoTex Interventional Systems, Inc.
Acquisition demonstrates Company’s commitment to leadership in treating carotid artery disease
Natick, MA, January 4, 2007 - Boston Scientific Corporation (NYSE: BSX) today announced it has acquired EndoTex Interventional Systems, Inc. The acquisition follows the Food and Drug Administration (FDA) approval of the NexStent® Carotid Stent System, which was studied in the CABERNET trial along with the Boston Scientific FilterWire EZ™ Embolic Protection System. Terms of the acquisition were not disclosed.
“Combining the resources of these two organizations demonstrates Boston Scientific’s commitment to leadership in treating carotid artery disease,” said John Pedersen, President of Boston Scientific’s Peripheral Interventions business. “Incorporating the NexStent Carotid Stent into our portfolio of available carotid artery products allows us to offer physicians expanded treatment options.”
EndoTex Interventional Systems, Inc. is a privately held, development stage medical device company focused on a less-invasive solution to treating carotid artery disease. The company’s vision is to develop enduring interventional vascular therapeutic solutions that will reduce the need for re-intervention, thereby providing improved quality of life, while reducing the cost of patient care.
“The transaction with Boston Scientific represents a marriage of two great organizations,” said Joseph Tartaglia, President and CEO of EndoTex Interventional Systems. “Their established infrastructure and our innovative technology will allow Boston Scientific to make the NexStent Carotid Stent System available to physicians around the world.”
The NexStent Carotid Stent System is a laser-cut, nitinol stent with a rolled sheet design that enables one stent size to adapt to multiple diameters in tapered or non-tapered vessel configurations. Its self-sizing feature is intended to provide customization when treating lesions in the carotid arteries, while its unique closed-cell configuration is designed to increase lesion coverage and to provide a smooth inner lumen to help facilitate delivery and retrieval of ancillary devices. The FDA has approved the NexStent Carotid Stent System and has cleared the FilterWire EZ Embolic Protection System for use in patients with carotid artery disease who are at high risk for surgery. The FilterWire EZ Embolic Protection System is designed to efficiently capture plaque that may dislodge during stent implantation, thereby reducing the risk of procedural-related stroke. When compared to surgical alternatives, this system provides a less-invasive way to treat patients with carotid artery disease – a major predictor of stroke.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
For more information on EndoTex Interventional Systems, Inc., please visit: www.endotex.com.
This press release contains forward-looking statements. Boston Scientific wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with product development and commercialization, clinical trials, intellectual property, regulatory approvals, competitive offerings, integration of acquired companies, Boston Scientific’s overall business strategy, and other factors described in Boston Scientific’s filings with the Securities and Exchange Commission.
Boston Scientific Corporation
Boston Scientific Corporation