Shearman Reps Boston Sci In $2B Unit Sale To Stryker

Law360, New York (October 28, 2010, 11:29 AM EDT) -- Stryker Corp. has agreed to buy Boston Scientific Corp.'s neurovascular business for $1.5 billion in cash in a move to become a leader in the $900 million market for medical devices to treat strokes and other conditions.

The definitive agreement, announced Thursday, calls for Stryker to pay Boston Scientific $1.4 billion at closing with further payments of up to $100 million based on certain achievements at the neurovascular division, including commercializing the next round of Target detachable coils used to treat hemorrhagic strokes and the transfer...
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