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Medical technology manufacturer Boston Scientific has signed a definitive agreement to acquire BridgePoint Medical, a private company based in Minneapolis.

BridgePoint Medical has developed a proprietary, catheter-based system to treat coronary chronic total occlusions (CTOs). The transaction is expected to be complete by the fourth quarter of 2012, subject to the customary conditions of closure.

Sales and profits of Boston Scientific had dropped in the second quarter of the current fiscal year.

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