Boston Scientific Corp (BSX.N), which is trying to reshape itself as it sells off some businesses and buys others, said it will acquire privately held Atritech Inc to expand its offerings in products that repair structural heart disease. Under the terms of the deal, which is expected to close in the first quarter, Boston Scientific will make an upfront payment of $100 million in cash. Additional potential payments of up to $275 million will be made through 2015, upon the achievement of certain milestones. The purchase price assumes no cash and no debt on Atritech's balance sheet at closing. Boston Scientific expects the acquisition to reduce earnings per diluted share by about 1 to 2 cents in 2011, 2012 and 2013, and add to earnings thereafter. On an adjusted basis, it is expected to cut earnings per share by 1 cent in 2011 and 2012, and then add to earnings.
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