Boston Scientific Corp. Closes Cameron Health Acquisition

Boston Scientific Corp. announced that it has closed its acquisition of Cameron Health, Inc. of San Clemente, California and, as a result, added to its product portfolio subcutaneous implantable cardioverter defibrillator, called the S-ICD System. The acquisition is the capstone of a nearly 10-year relationship between the two companies during which Boston Scientific invested in Cameron Health during its ground-breaking research and product commercialization efforts. Developed by Cameron Health, the entire S-ICD System sits just below the skin. The transaction follows Boston Scientific's exercise of its option to acquire Cameron Health announced on March 8, 2012. Under the terms of the agreement, Boston Scientific paid $150 million at closing. The agreement calls for an additional potential payment of $150 million to be made upon FDA approval of the S-ICD System and up to an additional $1.050 billion of potential payments to be made upon the achievement of specified revenue-based criteria over a six-year period following FDA approval. The Company currently expects the transaction to be approximately $0.01 dilutive in 2012 and approximately break-even in 2013 to earnings per share on an adjusted basis and more dilutive in both years on a GAAP basis as a result of acquisition-related net charges and amortization, which will be determined following the closing.