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Wednesday, January 5, 2011

Boston Scientific buys Intelect Medical for $60mln, (NYSE: BSX)

Medical device maker Boston Scientific Corp (BSX.N) said on Wednesday it bought Intelect Medical for $60 million in a move aimed at expanding its future portfolio of deep brain stimulation products. Boston Scientific, whose beaten down shares barely moved following the announcement, said it expects the deal to add to its earnings in 2014 but have no material impact until then. Intelect, a privately-held, Boston-based company, is developing neuromodulation technologies for deep brain stimulation (DBS) therapy, which involves implantation of a lead into the brain and a pulse generator in the chest that sends electrical impulses to the brain.