SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported): MAY 3, 1996
BOSTON SCIENTIFIC CORPORATION
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(Exact name of registrant as specified in charter)
Commission file number: 1-11083
DELAWARE 04-2695240
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(State or other (IRS employer
jurisdiction of identification no.)
incorporation)
One Boston Scientific Place, Natick, Massachusetts 01760-1537
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (508) 650-8000
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ITEM 5. OTHER EVENTS
On May 3, 1996, Boston Scientific Corporation ("Boston
Scientific") acquired substantially all of the assets and certain
liabilities of MinTec, Inc., an exempted company organized under the
laws of the Turks and Caicos and headquartered in the Bahamas
("MinTec"), and substantially all of the assets and certain liabilities of
the following affiliates of MinTec: MinTec (U.K.) Inc., an exempted
company organized under the laws of Turks and Caicos ("MU"),
MinTec Sarl, a corporation organized under the laws of France
("MF"), Endotech Ltd., a corporation organization organized under
laws of the Bahamas ("EB"), MinTec Italia Srl, a corporation
organized under the laws of Italy ("MI"), and Endotech Limited, a
corporation organized under the laws of Guernsey ("Endotech", and
together with MinTec, MU, MF, EB and MI, (the "Sellers"). The
aggregate purchase price was approximately $70 million in cash. The
Sellers were engaged in the business of designing, manufacturing and
distributing stents, endoluminal grafts and stent grafts, stent delivery
systems and other related medical devices.
A copy of Boston Scientific's press release announcing the
acquisition is filed as Exhibit 99.1 hereto and is incorporated by
reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA
FINANCIAL INFORMATION AND EXHIBITS
Exhibit Number Description
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99.1 Press Release of Boston Scientific
Corporation, dated May 3, 1996
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Date: May 16, 1996 By: /s/ Lawrence C. Best
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Name: Lawrence C. Best
Title: Senior Vice President -
Finance and Administration
and Chief Financial Officer
BOSTON SCIENTIFIC CORPORATION
ANNOUNCES ACQUISITION OF MINTEC
Natick, Mass. (May 3, 1996)--Boston Scientific Corporation
(NYSE:BSX) today announced the acquisition of MinTec Inc., a
privately held company dedicated to the development of stent graft
technology for the repair of diseased vessels and arteries. The cash
purchase price was approximately $70 million.
MinTec, headquartered in Freeport, Bahamas, has been pioneering the
development of endovascular stent grafts for the repair of abdominal
aortic aneurysms, peripheral aneurysms and peripheral vascular
occlusive disease. Boston Scientific will combine the MinTec
proprietary stent technology platform and other BSC stent
technologies with the unique vascular graft technology of its Meadox
division to aggressively develop new devices for the emerging
endovascular market. These new endovascular devices will be
marketed by both the Meadox (vascular surgery) and Medi-tech
(interventional radiology) divisions of Boston Scientific.
Commenting on this most recent acquisition, Pete Nicholas, Chairman
and Chief Executive Officer of Boston Scientific, said, "We have been
working with MinTec for some time on the development of a unique
bifurcated stent graft and delivery system for the endovascular repair
of abdominal aortic aneurysms incorporating the Meadox graft
technology. We are excited by this collaboration and the combination
of the two technology platforms and are anticipating an initial launch
of a new generation device in the very near future."
Boston Scientific is a worldwide developer, manufacturer and
marketer of medical devices whose products are used in a broad range
of interventional medical specialties.
CONTACT: Larry Best
Boston Scientific Corporation
508-650-8450
