Boston Scientific Corporation (BSX) Saving Cash for Possible Acquisitions, CFO Capello Says

2/3/2012 8:03:35 AM

Boston Scientific Corp. (BSX) will reserve most of the $1 billion in free cash it expects to generate in 2012 for acquisitions, with plans to use 25 percent to buy back shares, Chief Financial Officer Jeff Capello said. The company plans to purchase new technologies to help drive growth into the “mid-single digits,” Capello said on a conference call today with analysts. Boston Scientific, the second-biggest heart device manufacturer, reported today that net income plunged 55 percent to $107 million, or 7 cents a share, in the fourth-quarter as sales fell 7.7 percent.

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