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Boston Scientific Buys Advanced Bionics

In the headlines this afternoon, Boston Scientific says it struck a $740 million cash deal to buy closely held Advanced Bionics.

Advanced Bionics focuses on implantable microelectronic medical devices that are used to treat neurological disorders--an estimated $1.6 billion market this year. Boston Scientific (nyse: BSX - news - people ) says the acquisition will shave about 4 cents off its 2004 earnings and up to 6 cents off 2005 earnings. Advanced Bionics expects its sales to rise 45% this year to $82 million.
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