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Guidant buyer: Profits will come later
BOSTON (AP) - Boston Scientific Corp. said yesterday it would take a year longer than originally expected to see earnings gains from its proposed acquisition of Guidant Corp. because it is committed to taking costly steps to restore the rival medical device maker's business after recent product recalls.
But Boston Scientific, which is seeking to trump a smaller bid for Guidant from Johnson & Johnson, says it's sticking to its $25 billion offer price because it's confident it can restore trust in Guidant's lucrative pacemaker and defibrillator business.
The Natick-based company says Guidant has suffered little staff turnover despite recent bad news, continues investing in new products and is repairing relations with doctors, patients and regulators.
Guidant buyer: Profits will come later
BOSTON (AP) - Boston Scientific Corp. said yesterday it would take a year longer than originally expected to see earnings gains from its proposed acquisition of Guidant Corp. because it is committed to taking costly steps to restore the rival medical device maker's business after recent product recalls.
But Boston Scientific, which is seeking to trump a smaller bid for Guidant from Johnson & Johnson, says it's sticking to its $25 billion offer price because it's confident it can restore trust in Guidant's lucrative pacemaker and defibrillator business.
The Natick-based company says Guidant has suffered little staff turnover despite recent bad news, continues investing in new products and is repairing relations with doctors, patients and regulators.
posted by Jones Lang LaSalle NJ News Blog at 3:11 PM
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