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Stryker may be candidate for Boston Sci neuromodulation biz

This article was originally published in The Gray Sheet

Executive Summary

Stryker is reportedly in talks to acquire Boston Scientific's neuromodulation business for about $1.5 billion, although neither firm has publicly confirmed the discussions. Bloomberg reported Aug. 17 that the talks were in "advanced" stages. The Boston Sci neuromodulation biz, which makes spinal cord stimulation implants for pain management, would make "a good strategic fit" for Stryker's roughly $600 million spinal implant business and smaller pain management business, Wells Fargo Securities analyst Michael Matson said in an Aug. 18 report. Boston's neuromodulation sales increased 17% to $285 million in 2009. Reports first surfaced in April that Boston was considering selling its neuromodulation and neurovascular businesses. While neuromodulation has been Boston Scientific's fastest growing unit, the company may be willing to sell because of competitive pressures from Medtronic and St. Jude Medical and the investment that would be needed to catch up, some analysts say 1("The Gray Sheet" April 19, 2010)

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