Boston Scientific Corp. reports it has amended an agreement to settle claims related to implanted heart defibrillators, agreeing to pay $240 million to cover claims from 8,550 patients. The agreement increased the $195 million the company agreed to pay to settle 4,000 claims in July. The claims stem from product communications in 2005 and 2006 from Guidant Corp., which Boston Scientific acquired in 2006 for $27 billion, according to the company. Boston Scientific reports the agreement covers all claims related to the product complaints in the United States, including unfiled claims. Jim Tobin, the company's CEO, said in a statement he is "pleased" with the agreement. With 28,600 workers, Boston Scientific reported a 2006 net loss of nearly $3.6 billion on revenue of $7.8 billion.
Monday, November 19, 2007
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