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INITIAL PUBLIC OFFERING OF 23,500,000 SHARES OF COMMON STOCK OF BOSTON SCIENTIFIC CORPORATION

 INITIAL PUBLIC OFFERING OF 23,500,000 SHARES OF COMMON STOCK
 OF BOSTON SCIENTIFIC CORPORATION
 NEW YORK, May 19 /PRNewswire/ -- Goldman, Sachs & Co. and PaineWebber Incorporated, as managers of the underwriting group, announced today the initial public offering of 23,500,000 shares of common stock of Boston Scientific Corporation (NYSE: BSX) at a price of $17 per share. The company has granted the underwriters an option to purchase an additional 3,525,000 shares solely to cover over-allotments.
 Of the 23,500,000 shares being sold, 18,800,000 are being offered in the United States and 4,700,000 shares are being offered outside the United States.
 The net proceeds from the sale of the common stock will be used to purchase 18,829,725 shares of common stock from a subsidiary of Abbott Laboratories at a price equal to the offering price per share, less the underwriting discount, and for reduction of indebtedness, facilities expansion, working capital and other general corporate purposes.
 Boston Scientific Corporation is a world-wide developer, manufacturer and marketer of medical devices used to perform less invasive medical procedures. The company is headquartered in Watertown, Mass.
 Prospectuses regarding the shares of common stock will be available from the managing underwriters in New York.
 -0- 5/19/92
 /CONTACT: Peter M. Nicholas of Boston Scientific Corporation, 617-972-4405/
 (BSX) CO: Boston Scientific Corporation ST: Massachusetts IN: HEA SU: OFR


TS -- NY016 -- 1673 05/19/92 09:12 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 19, 1992
Words:242
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