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Boston Scientific announces agreement to purchase a majority stake in MITech Co., Ltd from Synergy Innovation Co., Ltd.




Marlborough, Mass., June 15, 2022 / PRNewswire /-Boston Scientific Corporation (NYSE: BSX) today officially purchases Synergy Innovation Co., Ltd and its majority stake (approximately 64%). Announced that it has signed a contract. MITech Co., Ltd, (“MITech”) is a Korean listed manufacturer and distributor of medical devices for endoscopy and urological surgery. MITech is the creator of HANA ROSTENT Technology, a family of compatible, non-vascular, self-expanding metal stents that Boston Scientific has been selling in Japan since 2015. The agreement consists of a purchase price of KRW 14,500 per share. Subject to closing adjustments, the current exchange rate is equivalent to a total of 291.2 billion won or approximately $ 230 million.

Non-vascular gastrointestinal and airway stents help clear obstructions or stenosis in various areas of the patient’s anatomy, including the biliary tree, pancreatic duct, esophagus, colon, and duodenum. Stenting is often minimally invasive and helps accelerate patient recovery compared to surgery. Helps prevent the stent from moving.

“MITech is an innovator in the development of non-vascular stents, offering products that complement the existing stent portfolio, including differentiated AXIOS stents and electric catheter expansion delivery systems and flexible and adaptable agile esophageal stent systems. “Masu,” said Art Butcher, Executive Vice President. Med Surg of Boston Scientific and Group President of Asia Pacific. “We are committed to investing in technologies that advance the care of patients around the world and are eager to work more closely with MITech to expand their international footprint.”

The company expects to close transactions in the second half of 2022, subject to normal closing conditions. The impact on GAAP and adjusted earnings per share is not expected to be significant in 2022.

About Boston Scientific Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global healthcare technology leader for over 40 years, we are advancing the science of life by providing a wide range of high-performance solutions to meet unmet patient needs and reduce healthcare costs. .. For more information, please visit and connect to Twitter and Facebook.

Forward-Looking Notes This press release contains forward-looking statements in the sense of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as “expect”, “plan”, “believe”, “plan”, “estimate”, and “intention”. These forward-looking statements are based on our beliefs, assumptions and estimates using the information available at that time and are not intended to guarantee future events or performance. These forward-looking statements include, among other things, statements about the financial and business impact of a transaction, product launches, product performance and impact. If our underlying assumptions are found to be inaccurate, or if certain risks or uncertainties become apparent, actual results are expressed or implied by our forward-looking statements. Expectations and expectations can differ significantly. These factors may affect, in some cases, and in the future (along with other factors) our ability to execute our business strategies, and actual results are intended in the statements expressed in this press release. It can be very different from what you received. As a result, readers are careful not to place undue reliance on our forward-looking statements.

Factors that can make such a difference include, among other things, future economic, competitive, redemption and regulatory conditions. Introducing new products; Demographic trends; Completion and integration of acquisitions. Intellectual property; litigation; financial market conditions; and future business decisions made by us and our competitors. All of these factors are difficult or impossible to accurately predict, and many of them are beyond our control. For a detailed list and description of these and other significant risks and uncertainties that may affect our future business, the latest annual form 10-K submitted to the Securities and Exchange Commission. See Part I of the report, Item 1A Risk Factors. Updated Part II, Item 1A Risk Factors in Form 10-Q Quarterly Report. This has been or will be submitted by us. We are committed to reflecting future expectations, or changes in events, conditions, circumstances that may be based on those expectations, or changes that may affect the possibility that actual results may differ. We disclaim any intention or obligation to publicly update or revise the outlook statement. Included in the forward-looking statement. This note applies to all forward-looking statements contained in this document.

contact address:

Kirsten Lesak-Greenberg Media Relations (763) 300-9254[email protected]

Lauren Tengler Investor Relations (508) 683-4479[email protected]

1Zhou, WZ, and Yang, ZQ (2014). Stent placement for malignant gastric outlet obstruction: Current status. Gastrointestinal Intervention, 3 (2), 6568. https: // SG (2010). Gastrointestinal stent renewal bowel and liver, 4 Suppl 1 (Suppl 1), S19S24.

Source Boston Scientific Corporation




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