Thursday, June 3, 2004

Advanced Bionics Acquired For $740M

Valencia-based Advanced Bionics, which develops implantable microelectronics for treating neurological disorders, has been acquired by Boston Scientific Corporatio for $740M. The deal also includes earn out payments tied to performance milestones. Advanced Bionics technology includes neurostimulators, programmable drug pumps, and cochlear implants. Advanced Bionics was founded by Al Mann, who is chairman and co-CEO of the company.