Guidant: The New Rules of the Device Game
As it seeks to capitalize on new opportunities in both its CRM and interventional businesses, Guidant also confronts a device industry whose rules are changing. The second of a two-part series.
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Some industry executives argue that the real winner in the battle between Johnson & Johnson and Boston Scientific for Guidant was Abbott, who came away with a bulked up interventional cardiology business and what promises to be the next big winner in drug-eluting stents. John Capek played a major role in growing Guidant's business and, post-sale, helped guide a successful integration within Abbott. Now, he's running all of Abbott's medical device businesses.
Boston Scientific CEO Jim Tobin, in a series of addresses, defends his company's decision to spend $27.3 billion on Guidant Inc., warts and all. Defying criticism of the deal, Tobin lays out how Boston Scientific management corrected Guidant's problems--and why the new company will thrive.
Biosensors International has not only developed a new stent, coating, and delivery technology in-house, but has also come up with its own drug, a rarity among small stent companies. Biosensors has adopted an aggressive dealmaking strategy much more akin to a large device or drug company, than a small firm. The result is that Biosensors has entered into alliances with big companies, including Guidant, and start-ups that have turned what until recently was a small interventional cardiology OEM company into one of the most innovative players in the drug-eluting stent market.