MARLBOROUGH, Mass.,
Nov. 15, 2016 /PRNewswire/
-- Boston Scientific (NYSE: BSX) has acquired the gynecology
and urology portfolio of Distal Access, LLC, a Salt Lake City based company that designs
minimally invasive medical devices. The portfolio includes the
Resectr™ Tissue Resection Device, a
single-use solution designed to effectively remove uterine
polyps.
Uterine polyps can cause a variety of symptoms, including
abnormal uterine bleeding and infertility. Nearly 80 percent of
women will develop one or more polyps in their lifetime1
and polyps should be removed in order to determine if they are
benign or contain malignant or pre-malignant cells. More than
400,000 polypectomies, the procedure to remove polyps, are
performed annually in the United
States. 2
"The Resectr device is exactly the type of innovation we need to
help make healthcare more cost-effective and accessible for
physicians and their patients," said David
Pierce, senior vice president and president, Boston
Scientific, urology and pelvic health. "This acquisition is part of
our commitment to advance comprehensive solutions for women's
health that can help physicians provide high-quality care."
The Resectr device is compatible with a broad range of
hysteroscopes and enables physicians to treat patients with polyps
in an office, hospital or ambulatory surgery center and reduces the
need for investment in additional capital equipment required with
traditional surgical tools used in this procedure. Used in
conjunction with a diagnostic hysteroscope, the Resectr device
offers the flexibility to treat polyps in a single office visit.
Clinical studies have demonstrated that outpatient treatment of
uterine polyps is a cost-effective alternative3 to
inpatient treatment with similar clinical outcomes.
4
The Resectr device will be integrated into the Boston Scientific
urology and pelvic health business which offers minimally invasive
solutions for gynecologic surgery, including the Symphion™ System
for uterine tissue removal and Genesys HTA™
System for the treatment of abnormal uterine bleeding. In addition,
the urology and pelvic health portfolio includes products focused
on kidney stones, benign prostatic hyperplasia (BPH), erectile
dysfunction, male incontinence and pelvic floor disorders.
The acquisition of the gynecology and urology portfolio from
Distal Access is immaterial to earnings per share (EPS) in
2016 and 2017 on an adjusted and GAAP basis. Specific terms of the
transaction were not disclosed.
- Khan AT, Shehmar M, Gupta JK. Uterine fibroids: current
perspectives. Int J Womens Health. 2014 Jan
29;6:95-114.
- MedTech 360 Market Analysis. Rep. Burlington: MedTech Reports, 2015. Print.
- Diwakar, L., Te Roberts, Nam
Cooper, L. Middleton, S.
Jowett, J. Daniels, P. Smith, and Tj Clark. "An Economic Evaluation
of Outpatient versus Inpatient Polyp Treatment for Abnormal Uterine
Bleeding." BJOG: An International Journal of Obstetrics &
Gynaecology BJOG: Int J Obstet Gy 123.4 (2015): 625-31. Web.
- "AAGL Practice Report: Practice Guidelines for the Diagnosis
and Management of Endometrial Polyps." Journal of Minimally
Invasive Gynecology 19.1 (2012): 3-10. Web.
About Boston Scientific
Boston Scientific transforms
lives through innovative medical solutions that improve the health
of patients around the world. As a global medical technology leader
for more than 30 years, we advance science for life by providing a
broad range of high performance solutions that address unmet
patient needs and reduce the cost of healthcare. For more
information, visit www.bostonscientific.com and connect
on Twitter and Facebook.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
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"project," "believe," "plan," "estimate," "intend" and similar
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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 acquisitions, clinical trials and
impact of data and product performance. 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; 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 hereafter. 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.
Use of Non-GAAP Financial Measures
To supplement our consolidated financial statements presented on
a GAAP basis, we disclose certain non-GAAP financial measures
including adjusted earnings per share. Adjusted earnings per share
excludes goodwill and intangible asset impairment charges;
acquisition-, divestiture-, litigation- and restructuring-related
charges and credits; certain discrete tax items and amortization
expense. Non-GAAP measures such as adjusted earnings per
share are not in accordance with generally accepted accounting
principles in the United States. The GAAP financial measure
most directly comparable to adjusted earnings per share is GAAP
earnings per share. The difference between our estimated
impact of the acquisition on our GAAP and adjusted earnings per
share relates to amortization expense on acquired intangible assets
and acquisition-related net charges, which primarily include
contingent consideration fair value adjustments, exit costs and
other fees. These amounts are excluded by the Company for
purposes of measuring adjusted earnings per share.
Management uses adjusted earnings per share along with other
supplemental non-GAAP measures to evaluate performance period over
period, to analyze the underlying trends in our business, to assess
its performance relative to its competitors, and to establish
operational goals and forecasts that are used in allocating
resources. Non-GAAP financial measures, including adjusted
earnings per share, should not be considered in isolation from or
as a replacement for GAAP financial measures. We believe that
presenting non-GAAP financial measures in addition to GAAP
financial measures provides investors greater transparency to the
information used by our management for its financial and
operational decision-making and allows investors to see our results
"through the eyes" of management. We further believe that
providing this information better enables our investors to
understand our operating performance and to evaluate the
methodology used by management to evaluate and measure such
performance.
CONTACT:
Media:
Catherine Brady
508-683-4797
Media Relations
Boston Scientific Corporation
Catherine.Brady@bsci.com
Investors:
Susie Lisa, CFA
508-683-5565 (office)
Investor Relations
Boston Scientific Corporation
investor_relations@bsci.com
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SOURCE Boston Scientific Corporation