Interventional device developer Boston Scientific has opted not to sell a minority interest in its Endosurgery group.
The Natick, MA-based company said it can create more shareholder value and internal growth with the Endosurgery group as a wholly owned unit. The benefits of keeping the entity "clearly outweigh those offered by the sale of a minority interest," the company said.
Still, some restructuring within the company is in the offing. Boston Scientific plans a number of announcements in the coming weeks and months to sell nonstrategic assets, divest part of its investment portfolio, and reduce expenses and its labor force.
The expense and headcount reduction plan will be announced in the next quarter, the company said.
By AuntMinnie.com staff writers
August 3, 2007
Related Reading
Boston Scientific begins Taxus Element stent trial, July 20, 2007
Boston Scientific brings Taxus Express² to Japan, May 8, 2007
Boston Scientific gets Japanese nod for Taxus, April 3, 2007
Boston Scientific shows year-end, Q4 sales growth, February 1, 2007
FDA OKs longer shelf life for Taxus, January 18, 2007
Copyright © 2007 AuntMinnie.com
