UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| ITEM 8.01 | OTHER EVENTS. |
Preventice Solutions, Inc. Acquisition
On March 1, 2021, Boston Scientific Corporation (the “Company”) completed its acquisition of Preventice Solutions, Inc. (“Preventice”). The transaction consists of an upfront cash payment of $925 million and up to an additional $300 million in a potential commercial milestone payment, or approximately $720 million upfront and $230 in a potential milestone payment, after accounting for the Company’s approximately 22 percent equity stake in Preventice prior to completing the acquisition. The Company previously announced entry into a definitive agreement to acquire Preventice on January 21, 2021. Preventice offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors – including short and long-term Holter monitors – to cardiac event monitors and mobile cardiac telemetry.
Specialty Pharmaceuticals Business Divestiture
On March 1, 2021, the Company completed the sale of the BTG Specialty Pharmaceuticals Business to Stark International Lux S.A.R.L., and SERB SAS, affiliates of SERB, a European specialty pharmaceutical group, for $800 million in cash. The sale follows the definitive agreement announced on December 1, 2020. Boston Scientific acquired the specialty pharmaceuticals business as part of its 2019 acquisition of BTG plc.
| ITEM 9.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
| Exhibit No. | Description |
| 104 | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 1, 2021 | BOSTON SCIENTIFIC CORPORATION | |
| By: | /s/ Vance R. Brown | |
| Vance R. Brown | ||
| Vice President and Chief Corporate Counsel | ||