Boston Scientific To Buy Remon MedTech

Boston Scientific Corp. (NYSE: BSX) has agreed to acquire Remon Medical Technologies Inc., a Caesarea, Israel-based developer of communication technology for medical device applications. No financial terms were disclosed for the deal, which is expected to close later this summer. Remon entered into a co-development agreement with in 2004 with Guidant Corp., which was subsequently acquired by Boston Scientific. It also had raised around $46 million in total VC funding, from firms like Polaris Venture Partners, Concord Ventures, Lilly Ventures, KBL Healthcare Ventures, Medical Venture Partners, Triathalon Medical Ventures and the Ofer Hi-Tech Group.