Boston Scientific Announces Agreement to Settle with State Attorneys General

The object of the agreement is to settle investigations associated with Guidant Corporation's Ventak Prizm 2DR Model 1861, Contak Renewal Model H135 and Contak Renewal 2 Model H155 devices. Boston Scientific acquired these Guidant entities last year.

Under the terms of the agreement, these three Boston Scientific subsidiaries will pay a total of $16.75 million and admit no liability. They also agreed to extend the Supplemental Warranty Program for these devices an additional six months and reaffirmed their commitment to implement changes recommended by the Independent Panel commissioned by Guidant in 2005, such as having a Patient Safety Officer and a Patient Safety Advisory Board, and making enhancements to product performance communications.

"Boston Scientific has been working cooperatively with the state Attorneys General and is pleased to have reached an amicable agreement," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "This agreement underscores our commitment to being the industry leader in patient safety and in communicating with patients and doctors." -Boston Scientific