Boston Scientific Announces Completion of Quanam Medical Corporation Acquisition

Apr 02, 2001, 01:00 ET from Boston Scientific Corporation

    NATICK, Mass., April 2 /PRNewswire/ -- Boston Scientific Corporation
 (NYSE:   BSX) today announced the completion of its acquisition of Quanam
 Medical Corporation.  Terms of the acquisition were not disclosed.  Boston
 Scientific had announced the signing of a definitive agreement with Quanam on
 February 28.
     Founded in 1993 and headquartered in Santa Clara, CA, Quanam is a private
 company that develops medical devices using novel polymer technology with a
 concentration on drug-delivery stent systems for use in cardiovascular
 applications.  With clinical experience in more than 300 patients, the company
 is a leader in the promising new arena of drug-delivery stents.
     "Quanam will significantly expand our capabilities in polymers and drug
 delivery," said Jim Tobin, Boston Scientific President and Chief Executive
 Officer.  "They will provide substantial new assets to our drug-delivery stent
 program as we move forward in this critical area."
     Boston Scientific continues to make progress on its internal drug-delivery
 stent program. The company has completed enrollment in its 60-patient clinical
 trial, and it has concluded the 30-day Major Adverse Cardiac Events (MACE)
 follow-ups on two-thirds of these patients.  There has been no evidence of any
 adverse events to date.
     "The expertise at Quanam, coupled with that of the Molecular Interventions
 Group at Boston Scientific, will provide added proficiency in further
 development of existing delivery technologies and will help step up our
 development of new proprietary delivery technologies," said Jim Barry, Ph.D.,
 Vice President of the Molecular Interventions Group at Boston Scientific.  "We
 look forward to integrating Quanam into our team."
     Boston Scientific is a worldwide developer, manufacturer and marketer of
 medical devices.  The Company's products are used in a broad range of
 interventional medical specialties.
     This press release contains forward-looking statements.  The Company
 wishes to caution the reader that actual results may differ from those
 discussed in the forward-looking statements and may be adversely affected by,
 among other things, risks associated with new product development and
 commercialization, clinical trials, regulatory approvals, intellectual
 property, competitive offerings, the Company's overall business strategy, and
 other factors described in the Company's filings with the Securities and
 Exchange Commission.
 
 

SOURCE Boston Scientific Corporation
    NATICK, Mass., April 2 /PRNewswire/ -- Boston Scientific Corporation
 (NYSE:   BSX) today announced the completion of its acquisition of Quanam
 Medical Corporation.  Terms of the acquisition were not disclosed.  Boston
 Scientific had announced the signing of a definitive agreement with Quanam on
 February 28.
     Founded in 1993 and headquartered in Santa Clara, CA, Quanam is a private
 company that develops medical devices using novel polymer technology with a
 concentration on drug-delivery stent systems for use in cardiovascular
 applications.  With clinical experience in more than 300 patients, the company
 is a leader in the promising new arena of drug-delivery stents.
     "Quanam will significantly expand our capabilities in polymers and drug
 delivery," said Jim Tobin, Boston Scientific President and Chief Executive
 Officer.  "They will provide substantial new assets to our drug-delivery stent
 program as we move forward in this critical area."
     Boston Scientific continues to make progress on its internal drug-delivery
 stent program. The company has completed enrollment in its 60-patient clinical
 trial, and it has concluded the 30-day Major Adverse Cardiac Events (MACE)
 follow-ups on two-thirds of these patients.  There has been no evidence of any
 adverse events to date.
     "The expertise at Quanam, coupled with that of the Molecular Interventions
 Group at Boston Scientific, will provide added proficiency in further
 development of existing delivery technologies and will help step up our
 development of new proprietary delivery technologies," said Jim Barry, Ph.D.,
 Vice President of the Molecular Interventions Group at Boston Scientific.  "We
 look forward to integrating Quanam into our team."
     Boston Scientific is a worldwide developer, manufacturer and marketer of
 medical devices.  The Company's products are used in a broad range of
 interventional medical specialties.
     This press release contains forward-looking statements.  The Company
 wishes to caution the reader that actual results may differ from those
 discussed in the forward-looking statements and may be adversely affected by,
 among other things, risks associated with new product development and
 commercialization, clinical trials, regulatory approvals, intellectual
 property, competitive offerings, the Company's overall business strategy, and
 other factors described in the Company's filings with the Securities and
 Exchange Commission.
 
 SOURCE  Boston Scientific Corporation