Boston Scientific Announces Completion of Enteric Medical Technologies, Inc. Acquisition
Natick, MA - June 13, 2002Boston Scientific Corporation (NYSE: BSX) today announced the completion of its acquisition of Enteric Medical Technologies, Inc. (EMT). Terms of the agreement were not disclosed. Boston Scientific had announced the signing of a definitive agreement with EMT on May 30.
A privately held company based in Foster City, CA., EMT designs, manufactures and markets Enteryx™, a liquid polymer technology for the treatment of gastroesophageal reflux disease (GERD).
"The GERD market presents substantial opportunities for those pursuing an interventional treatment approach to this disease," said Michael Phalen, President of Boston Scientific's Microvasive Endoscopy division. "We believe EMT's Enteryx technology holds great promise for becoming a leading therapeutic option for patients who currently rely on a pharmaceutical or surgical solution."
Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of medical devices. The Company's products are used in a broad range of interventional medical specialties. Its Microvasive Endoscopy division is a leading global provider of interventional gastrointestinal devices for endoscopists.
This press release contains forward-looking statements. The Company wishes to caution the reader that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with new product development and commercialization, clinical trials, regulatory approvals, intellectual property, competitive offerings, the Company's overall business strategy, and other factors described in the Company's filings with the Securities and Exchange Commission.
Contacts
Milan Kofol (508-650-8569)
Investor Relations, Boston Scientific Corporation
Paul Donovan (508-650-8541)
Media Relations, Boston Scientific Corporation
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