NATICK, Mass., July 28, 2011 /PRNewswire/ — Boston Scientific
Corporation’s (NYSE:
BSX) Board of Directors has approved a new program authorizing
the repurchase of up to $1.0 billion of its common stock and
re-approving the approximately 37 million shares remaining under an
existing share repurchase program.
“This repurchase program reflects our confidence in the strength
of the Company’s long-term business prospects, earnings growth
potential and our ability to generate strong cash flow,” said Ray
Elliott, President and Chief Executive Officer of Boston
Scientific. “Having reduced our gross debt to $4.2 billion,
which is consistent with our targeted capital structure, we believe
this new program provides us with added flexibility in our
commitment to delivering value to shareholders.”
Any share repurchases are at the Company’s discretion, subject
to applicable law, market conditions, stock price and other
factors.
About Boston ScientificBoston Scientific is a worldwide
developer, manufacturer and marketer of medical devices whose
products are used in a broad range of interventional medical
specialties. For more information, please visit: www.bostonscientific.com.
Cautionary Statement Regarding Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements may be identified by words like “anticipate,” “expect,”
“project,” “believe,” “plan,” “estimate,” “intend” and similar
words. These forward-looking statements are based on our
beliefs, assumptions and estimates using information available to
us at the time and are not intended to be guarantees of future
events or performance. These forward-looki
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