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Bayer sells division to Boston Scientific

Germany's Bayer sells division to US's Boston Scientific in $415 million deal

Associated Press

BERLIN (AP) -- Germany's Bayer AG says it's selling its interventional division to the Boston Scientific Corporation for $415 million so that it can focus on growth in other areas.

The Leverkusen-based company said Thursday the sale includes its AngioJet system used to remove blood clots, its Jetstream system for arterial disease treatment, and the Fetch 2 Aspiration Catheter used in cardiology, radiology and peripheral vascular procedures.

Bayer says the sale will allow its HealthCare unit to focus more on growing its radiology and diabetes care business segments.

Natick, Massachusetts-based Boston Scientific says the acquisition is expected to expand the company's access to customers in need of such treatments.

The transaction is subject to antitrust approval and is expected to clear in the second half of 2014.