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    NATICK, Mass. and NEW YORK, Dec. 13 /PRNewswire-FirstCall/ -- Boston
 Scientific Corporation (NYSE:   BSX) and Avista Capital Partners, a leading
 private equity firm, today jointly announced the signing of a definitive
 agreement under which Avista will acquire from Boston Scientific its Fluid
 Management and Venous Access businesses for $425 million in cash. The
 transaction is expected to close in the first quarter of 2008, subject to
 regulatory approvals and customary conditions. Boston Scientific previously
 announced its intent to sell these businesses as part of its plan to divest
 non-strategic assets.
 
     Avista said that upon close of the transaction, the combined Fluid
 Management/Venous Access business will operate as an independent company
 under a new name. Ron Sparks, an Avista healthcare industry advisor, will
 become Chairman and Chief Executive Officer of the new company. Dave
 McClellan, President of Boston Scientific's Oncology business, will become
 President of the new company.
 
     The Fluid Management franchise, formerly North American Medical
 Instruments Corporation (NAMIC), produces a range of products used to
 manage fluid and measure pressure during angiography and angioplasty
 procedures. The Fluid Management franchise employs approximately 750 people
 in its Glens Falls, NY manufacturing facility.
 
     The Venous Access franchise, whose products are also manufactured in
 Glens Falls, offers a leading portfolio of implantable devices designed to
 provide access to the blood stream for patients requiring intravenous
 antibiotics, nutrition, chemotherapy and blood sampling. The Venous Access
 franchise is part of Boston Scientific's Oncology business, and employs
 approximately 150 people in locations around the United States.
 
     Projected revenue for the two businesses in 2007 is approximately $170
 million.
 
     "We now have under agreement the divestitures of all five non-strategic
 businesses we had previously identified for sale," said Jim Tobin,
 President and Chief Executive Officer of Boston Scientific. "In addition,
 our expense and head count reduction initiative is well under way, and we
 continue to make progress monetizing our investment portfolio and
 restructuring several businesses. These measures should help us further our
 overall goals of restoring profitable growth, increasing shareholder value
 and continuing to strengthen Boston Scientific for the future."
 
     In addition to the two sales announced today, Boston Scientific has
 also recently announced agreements to sell its Cardiac Surgery, Vascular
 Surgery and Auditory businesses.
 
     "Boston Scientific's Fluid Management and Venous Access businesses
 maintain strong leadership positions in their respective markets and are
 recognized for benefiting interventional cardiologists, radiologists and
 oncologists, and their patients," said David Burgstahler, a partner at
 Avista Capital Partners. "Furthermore, given his extensive experience in
 the medical device field, Ron Sparks is a great fit to drive growth for the
 combined business going forward."
 
     "We are very excited about this transaction," added Larry Pickering,
 Avista Capital Partners' healthcare industry partner. "The Fluid Management
 franchise has exceptional brands and a cutting-edge manufacturing facility
 at Glens Falls with unique custom kitting capabilities. The Venous Access
 business has robust R&D capabilities, a knowledgeable sales force and a
 strong new product introduction track record, which should continue to
 propel organic growth."
 
     "I am eager and delighted to work with the existing Fluid Management
 and Venous Access teams to build on their leading franchises in oncology,
 radiology and interventional cardiology to create a world-class,
 stand-alone medical device company," said Ron Sparks. "We want to recognize
 the important work these teams have done in developing these franchises, as
 well as the valuable role we expect them to play going forward."
 
     "This is an exciting time for Fluid Management and Venous Access, and
 we are thrilled to be joining the talented Avista team as we develop a
 strategy to drive long-term growth and expand our businesses," said Dave
 McClellan.
 
     "We greatly appreciate the contributions our Fluid Management and
 Venous Access employees have made to Boston Scientific," added Tobin. "We
 wish them continued success in providing customers and patients with
 quality products and innovative therapies."
 
     Fluid Management/Venous Access will be Avista's fifth investment in the
 healthcare industry. In 2007, Avista made healthcare investments in
 BioReliance (www.bioreliance.com) and VWR International (www.vwr.com) and
 in 2006 Avista announced investments in Nycomed (www.nycomed.com) and
 MedServe (www.medserveinc.com). While at DLJ Merchant Banking Partners, the
 Avista partners were involved in numerous healthcare transactions including
 Accellent, Charles River Laboratories, Focus Diagnostics, KCI, Prometheus
 Labs and Warner Chilcott.
 
     About Boston Scientific
 
     Boston Scientific is a worldwide developer, manufacturer and marketer
 of medical devices whose products are used in a broad range of
 interventional medical specialties. For more information, please visit:
 www.bostonscientific.com.
 
     About Avista Capital Partners
 
     Avista Capital Partners is a leading private equity firm with offices
 in New York, NY and Houston, TX. Founded in 2005, Avista manages $2.0
 billion in private equity capital. Avista's strategy is to make controlling
 or influential minority investments primarily in growth-oriented media,
 healthcare and energy companies. Through its team of seasoned investment
 professionals and industry experts, Avista seeks to partner with
 exceptional management teams to invest in and add value to well-positioned
 businesses. For more information, visit www.avistacap.com.
 
     Cautionary Statement Regarding Forward Looking Statements
 
     This press release contains forward-looking statements within the
 meaning of Section 21E of the Securities Exchange Act of 1934.
 Forward-looking statements may be identified by words like "anticipate,"
 "expect," "project," "believe," "plan," "estimate," "intend" and similar
 words. These forward- looking statements are based on our beliefs,
 assumptions and estimates using information available to us at the time and
 are not intended to be guarantees of future events or performance. These
 forward-looking statements include, among other things, statements
 regarding our divestiture of non-strategic assets, our restructuring
 initiatives, our operational strategy, our financial performance and our
 growth strategy. If our underlying assumptions turn out to be incorrect, or
 if certain risks or uncertainties materialize, actual results could vary
 materially from the expectations and projections expressed or implied by
 our forward-looking statements. These factors, in some cases, have affected
 and in the future (together with other factors) could affect our ability to
 implement our business strategy and may cause actual results to differ
 materially from those contemplated by the statements expressed in this
 press release. As a result, readers are cautioned not to place undue
 reliance on any of our forward-looking statements.
 
     Factors that may cause such differences include, among other things:
 future economic, competitive, reimbursement and regulatory conditions; new
 product introductions; demographic trends; intellectual property;
 litigation; financial market conditions; disposition of non-strategic
 assets and, future business decisions made by us and our competitors. All
 of these factors are difficult or impossible to predict accurately and many
 of them are beyond our control. For a further list and description of these
 and other important risks and uncertainties that may affect our future
 operations, see Part I, Item 1A- Risk Factors in our most recent Annual
 Report on Form 10-K filed with the Securities and Exchange Commission,
 which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports
 on Form 10-Q we have filed or will file thereafter. We disclaim any
 intention or obligation to publicly update or revise any forward-looking
 statements to reflect any change in our expectations or in events,
 conditions, or circumstances on which those expectations may be based, or
 that may affect the likelihood that actual results will differ from those
 contained in the forward-looking statements. This cautionary statement is
 applicable to all forward-looking statements contained in this document.
 
 

     CONTACTS FOR BOSTON SCIENTIFIC:
     Paul Donovan
     508-650-8541 (office)
     508-667-5165 (mobile)
     Media Relations
     Boston Scientific Corporation
 
     Dan Brennan
     508-650-8538 (office)
     617-459-2703 (mobile
     Investor Relations
     Boston Scientific Corporation
 
     CONTACT FOR AVISTA CAPITAL PARTNERS:
     Diana Postemsky
     212-521-4805
     Kekst and Company
 
 

SOURCE Boston Scientific Corporation