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Boston Scientific Announces Expansion Plans in Minnesota |
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Company plans to construct new building, hire 600 new employees
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NATICK, Mass. and MAPLE GROVE, Minn., Feb. 17 -- Boston Scientific Corporation (NYSE: BSX - News) today announced major plant and employment expansion plans in Minnesota, headquarters of its Cardiovascular group. At a press conference at its Maple Grove, Minnesota facility, the Company said it plans to construct a new 120,000 square-foot building at the Maple Grove campus, providing space for up to approximately 600 new employees. The Company expects to hire the additional 600 employees between now and 2008. The new building will house primarily research and development laboratories and offices. Boston Scientific currently employs approximately 2,500 people in Minnesota, at facilities in Maple Grove and Plymouth. The Company hired approximately 570 people in Minnesota last year. Maple Grove is one of two locations where Boston Scientific manufactures its TAXUS(TM) Express2(TM) paclitaxel-eluting coronary stent system (the other is Galway, Ireland). Boston Scientific launched the TAXUS system in Europe and other international markets in 2003 and is the leader in those markets today. Approval of TAXUS by the U.S. Food and Drug Administration is expected this quarter. "We've been growing steadily, and we've outgrown our existing space," said Paul LaViolette, Boston Scientific Senior Vice President and Group President, Cardiovascular. "Our expansion plans for Minnesota reflect our expectation of continued growth, driven by our anticipated U.S. launch of TAXUS this quarter as well as other products in the pipeline." Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com. This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with the commercialization of new technologies, operational efficiencies, and other factors described in the Company's filings with the Securities and Exchange Commission.
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