Boston completes $425m divestment to Avista
This article was originally published in Clinica
Executive Summary
Boston Scientific has completed the sale of its fluid management and venous access businesses to private New York equity firm Avista Capital Partners for $425m. An agreement for the all-cash deal was originally signed in December (see Clinica No 1287, p 1). The closing of the sale brings about the completion of Boston's plans to divest its five non-core businesses. Boston is currently undergoing major restructuring initiative to pull the company back into profitable growth. The Natick-Massachusetts-based company expects the divestment to result in after-tax gain of around $120m during the first quarter of 2008.
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