This agreement amends a prior agreement Boston Scientific reached in July 2007 to cover additional unanticipated claims. Boston Scientific acquired Guidant in 2006.
Under the terms of the amended agreement, subject to certain conditions, Boston Scientific will pay a total of up to $240 million. The agreement covers 8,550 patient claims, including all of those that have been consolidated in the US District Court of Minnesota in a multi-district litigation (MDL), as well as other filed and unfiled claims throughout US. As a result of the amendment, proceedings in Minnesota state court have been stayed. The amended agreement was reached during mediation sessions conducted before US Magistrate Judge Arthur Boylan in Minneapolis.
Under the terms of the prior agreement, Boston Scientific had agreed to pay $195 million to settle over 4,000 claims in the MDL, as well as an undetermined number of additional similar claims. The company believes that the claims covered by the amended agreement constitute substantially all currently asserted claims in the US arising from the 2005 and 2006 product communications.