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Boston Scientific Buys Brain-Stimuli Tech Firm; $78 Million Value

DOW JONES NEWSWIRES Boston Scientific Corp. (BSX) acquired a development-stage company focused on technology that is sometimes described as pacemakers for the brain, in a deal valuing the company at $78 million. The medical-device maker bought Intelect Medical Inc. with a total cash payment of $60 million paid from cash on hand. The payment is in addition to Boston Scientific's existing equity and debt positions in Intelect, which it didn't disclose. Intelect Medical's website said it has raised $11.3 million in equity financing from Boston Scientific and Greatbatch Inc. (GB). Boston Scientific predicted the deal would start boosting earnings in 2014. Late last year, the company outlined its strategies to spark sales growth in the next few years. That included a focus on products in the area of brain-stimulation technology, which is Intelect's focus. The company is developing a neuromodulation programming system that would be the first to let clinicians visualize stimulation fields in the brain and provide more precise targeting of therapy. Neuromodulation involves implanting devices to alter activity in the nervous system, often with electricity or drugs. Boston Sci shares were up a penny at $7.49 in recent trading. The stock has fallen 17% in the last year, while the broader market has climbed. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Greatbatch (GB)
11/25/201514:19:58Statement of Changes in Beneficial Ownership (4)
11/25/201512:23:43Statement of Changes in Beneficial Ownership (4)
11/25/201511:25:58Statement of Changes in Beneficial Ownership (4)
11/23/201515:33:41Statement of Changes in Beneficial Ownership (4)
11/18/201506:09:43Small Company Offering and Sale of Securities Without Registration...
11/10/201514:19:55Quarterly Report (10-q)
11/06/201514:47:51Initial Statement of Beneficial Ownership (3)
11/05/201515:51:32Initial Statement of Beneficial Ownership (3)
11/05/201515:42:29Initial Statement of Beneficial Ownership (3)
11/05/201515:37:43Initial Statement of Beneficial Ownership (3)
10/29/201521:13:03Greatbatch's (GB) CEO Tom Hook on Q3 2015 Results - Earnings...
10/29/201517:25:09Statement of Ownership (sc 13g)
10/29/201516:06:53Current Report Filing (8-k)
10/29/201516:05:00Greatbatch, Inc. Reports 2015 Third Quarter Results
10/28/201517:17:31Current Report Filing (8-k)
10/27/201519:24:48Greatbatch wraps $1.73B Lake Region purchase; to rename as Integer...
10/27/201519:06:59Greatbatch, Inc. Completes Acquisition of Lake Region Medical
10/20/201513:59:41Greatbatch Announces Pricing of $360 Million of 9.125% Senior...
10/13/201516:12:41Current Report Filing (8-k)
10/13/201516:05:00Greatbatch Announces Private Offering of $360 Million of Senior...

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