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Home Industry News Boston Scientific hopes to maintain strength with acquisition

Boston Scientific hopes to maintain strength with acquisition

9th January 2009

Boston Scientific is hoping to maintain its market position with the acquisition of Labcoat, it announced this week.

Labcoat is based in Galway, Ireland and is a privately-held company currently at the development stage. It focuses on drug-eluting stents.

No financial details of the purchase were revealed but Boston Scientific said the deal resulted from an “ongoing, productive relationship”.

It added that the technology at the centre of Labcoat’s operations was a “major advance” in the industry.

“We look forward to building on our shared commitment to developing new drug-eluting stent technologies that improve patient outcomes,” remarked president and chief executive officer of Boston Scientific Jim Tobin.

The company is aiming to evaluate Labcoat’s technology and possibly use it on its own drug-eluting stents.

Last month it announced that the first patient had been enrolled for its Cabana post-market approval investigation.

This study is intended to collect data for the Carotid Wallstent Monorail Endoprosthesis with the FilterWire EZ Embolic Protection System.

Boston Scientific described the medical devices as the only system for those who have either bilateral or ipsilateral carotid artery disease blockages in the neck and are a high risk for surgery.

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