From the Boston Globe Business Team
Boston Scientific sells aortic repair unit
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March 31, 2008 08:50 AM
Natick medical device maker Boston Scientific Corp. announced today the sale of its aortic repair program as part of an ongoing plan to divest itself of nonstrategic assets.
The company said it sold Boston Scientific Santa Rosa Corp., formerly known as TriVascular Inc., to TV2 Holding Co., a privately held company in Santa Rosa, Calif.
Terms of the sale included $30 million in cash and a warrant allowing Boston Scientific to purchase a minority interest in TV2, Boston Scientific said.
Boston Scientific said it acquired TriVascular, which was founded to develop devices and procedures for treating abdominal aortic aneurysms, in 2005.
(By Chris Reidy, Globe staff)
