November 19, 2007
BSX Pays $55M More To Stop The Bleeding
By Cory Hopkins
Natick medical device maker Boston Scientific announced today that it would pay up to $240 million, rather than the $195 million settlement reached in July, to settle patient claims against Guidant Corp.
BSX bought Guidant for $27 billion early last year.
Under terms of the prior agreement, BSX agreed to pay $195 million to settle more than 4,000 claims associated with a series of 2005 and 2006 product communications issued by Guidant.
The amended agreement will bump the payment up to $240 million and 8,550 patient claims, which the company said it believes constitutes substantially all currently asserted claims in the country.
BSX bought Guidant for $27 billion early last year.
Under terms of the prior agreement, BSX agreed to pay $195 million to settle more than 4,000 claims associated with a series of 2005 and 2006 product communications issued by Guidant.
The amended agreement will bump the payment up to $240 million and 8,550 patient claims, which the company said it believes constitutes substantially all currently asserted claims in the country.
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