Boston Scientific Corp is going to acquire CryoCor, Inc. for $1.35 per share of CryoCor, or approximately $17.6 million, in cash.
The Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties.
This acquisition follows a development agreement, in place since June 2007, to pursue therapeutic solutions for atrial fibrillation, or "Afib." Afib is the most common cardiac arrhythmia and affects millions of patients.
Fred Colen, Executive Vice President, Operations and Technology, Boston Scientific Cardiac Rhythm Management, said, "In the current development project, CryoCor's console demonstrated its ability to efficiently deliver nitrous oxide to our proprietary cryo balloon catheter. This acquisition will allow us to further refine this base console technology, and gaining exclusive rights to CryoCor's family of intellectual property will provide us a key strategic advantage."
The acquisition, which has been approved by the Board of Directors of CryoCor, is structured as a cash tender offer. The parties have agreed to commence the tender offer within the next 10 business days. The merger is expected to close this quarter.
Russian Finance Minister Anton Siluanov announced a possible move that Russia can take in response to new US sanctions
Not that long ago, American soldiers would train their skills to counter insurgent and partisan military organizations. These days, they are trained to show resistance to the regular army of a potential adversary
The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America