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BSX Snares CryoCor for $17.6 Million

Robert Buderi 4/16/08

Boston Scientific will acquire San Diego-based CryoCor, with which it has an existing agreement to develop treatments for cardiac arrhythmia, for approximately $17.6 million, the company announced today. Under the cash deal, Natick, MA-based Boston Scientific (NYSE: BSX) will pay $1.35 per share for CryoCor (NASDAQ: CRYO), which represents a roughly 20 percent premium over yesterday’s closing price of $1.13.

Bob is Xconomy's founder and editor in chief. You can e-mail him at bbuderi@xconomy.com, call him at 617.500.5926, or follow him on Twitter at http://twitter.com/bbuderi.

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