Boston boosts share in brain monitoring company:
This article was originally published in Clinica
Boston Scientific has spent $8.1m on acquiring a further 500,000 shares of common stock in Aspect Medical Systems. The two companies had formed a strategic alliance in August 2002 to introduce New York-based Aspect's sedation management technology to new markets. Under this agreement, Boston bought 1.43 million shares of Aspect's stock and provided the New York-based developer of brain monitoring systems with a $5m revolving line of credit. The contract stipulated that Boston could acquire up to 25% of Aspect's outstanding common stock in the market. This recent purchase pushes the Natick, Massachusetts-based company's share of Aspect to 22.5%.