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NetworkNewsBreaks – Neovasc, Inc. (NVCN), Boston Scientific Corp. (BSX) Close $75M Acquisition Deal; Shares of Both Higher

Company: Neovasc, Inc. (NVCN)
Category: News

Neovasc (NASDAQ: NVCN) and Boston Scientific (NYSE: BSX) this morning reported the close of their previously announced $75 million agreement in which Boston Scientific has acquired Neovasc’s advanced biologic tissue capabilities and certain manufacturing assets, as well as 11,817,000 common shares at a price of $0.60 each ($7.0 million) for a 15% equity interest in Neovasc. Per the agreement, Neovasc has been granted a license to the purchased assets and access to the facilities in order to continue its assembly activities for its remaining tissue and valve customers. Neovasc said it intends to use the proceeds of these transactions toward the ongoing litigation against CardiAQ Valve Technologies, Inc. and for general corporate purposes.

To view the full press release, visit: http://nnw.fm/U0QmT

About Neovasc Inc.

Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace.  Its products include the Neovasc Reducer™, for the treatment of refractory angina which is not currently available in the U.S. and has been available in Europe since 2015 and the Tiara™, for the transcatheter treatment of mitral valve disease, which is currently under investigation in the U.S., Canada and Europe. The Company also sells a line of advanced biological tissue products that are used as key components in third-party medical products including transcatheter heart valves. For more information, visit: www.neovasc.com

About Boston Scientific

Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 35 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.

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NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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