NATICK, Mass. and SAN DIEGO, May 28 BostonScientific Corporation (NYSE: BSX) and CryoCor, Inc. (Nasdaq: CRYO) todayannounced that Boston Scientific has completed its acquisition of CryoCor.The transaction follows the definitive agreement announced on April 16. Underthe terms of the transaction, all remaining outstanding CryoCor shares areentitled to receive $1.35 per share in cash, for a total of approximately$17.6 million. CryoCor is now an indirect, wholly-owned subsidiary of BostonScientific.
About Boston Scientific Corporation
Boston Scientific is a worldwide developer, manufacturer and marketer ofmedical devices whose products are used in a broad range of interventionalmedical specialties. For more information, please visit:www.bostonscientific.com.
Boston Scientific's Electrophysiology business is a leader in cardiacablation products designed to treat common cardiac arrhythmias. Its line ofBlazer(TM), Blazer XP(TM) and Chilli II(TM) products are used to treatarrhythmias such as Atrial Flutter and Ventricular Tachycardia. TheElectrophysiology business also supplies a complete line of multi-electrodediagnostic catheters, ultrasound (ICE) catheters and accessories.
About CryoCor, Inc.
CryoCor is a medical technology company that has developed andmanufactures a disposable catheter system based on its proprietarycryoablation technology for the minimally invasive treatment of cardiacarrhythmias. The Company's product, the CryoCor Cardiac Cryoablation System,or the Cryoablation System, is designed to treat cardiac arrhythmias throughthe use of cryoenergy, or extreme cold, to destroy targeted cardiac tissue.The Cryoablation System has been approved in Europe for the treatment ofatrial fibrillation, and atrial flutter, the two most common and difficult totreat arrhythmias, since 2002. In the United States, CryoCor is conducting apivotal trial to evaluate the safety and efficacy of the Cryoablation Systemfor the treatment of atrial fibrillation and the Cryoablation System has beenapproved for the treatment of right atrial flutter. For more informationplease visit the Company's website at http://www.cryocor.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaningof Section 21E of the Securities Exchange Act of 1934. Forward-lookingstatements may be identified by words like "anticipate," "expect," "project,""believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates usinginformation available to us at the time and are not intended to be guaranteesof future events or performance. These forward-looking statements include,among other things, statements regarding new product development andperformance, acquisitions and integration of acquired companies, developmentplans and expenditures, and our growth strategy. If our underlyingassumptions turn out to be incorrect, or if certain risks or uncertaintiesmaterialize, actual results could vary materially from the expectations andprojections expressed or implied by our forward-looking statements. Thesefactors, in some cases, have affected and in the future (together with otherfactors) could affect our ability to implement our business strategy and maycause actual results to differ materially from those contemplated by thestatements expressed in this press release. As a result, readers arecautioned not to place undue reliance on any of our forward-lookingstatements.
Factors that may cause such differences include, among other things:future economic, competitive, reimbursement and regulatory conditions; newproduct introductions; demographic trends; intellectual property; litigation;financial market conditions; and, future business decisions made by us and ourcompetitors. All of these factor