Boston Scientific completes CryoCor buyout

Natick medical-device maker Boston Scientific Corp. said today that it completed the $17.6 million buyout of rival CryoCor Inc. as part of a move to further develop treatments for irregular heart beats.

The buyout deal, for $1.35 per share, was announced April 16. Meanwhile, a group of shareholders filed a lawsuit earlier in May, seeking to block the deal. Boston Scientific did not comment today on the status of that lawsuit.

The acquisition follows a development agreement between the two companies to pursue therapies for atrial fibrillation. That agreement involved developing a console to deliver cryo energy to a cryo balloon catheter developed by Boston Scientific.

Shares of Boston Scientific added 4 cents to $13.48 in morning trading on the New York Stock Exchange. CryoCor is based in San Diego and is now a subsidiary of Boston Scientific. (AP)