Shearman & Sterling represented Boston Scientific Corporation in its planned sale of its Neurovascular business to Stryker Corporation in a transaction valued at $1.5 billion. The transaction is expected to close before the end of the year, subject to receipt of regulatory clearances and satisfaction of other customary conditions.

Boston Scientific, a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties, established its Neurovascular business with the acquisition of Target Therapeutics in 1997. Headquartered in Fremont, California, the Neurovascular business is a leading developer of less-invasive medical technologies used to treat brain aneurysms and other types of cerebrovascular disease.

Stryker is one of the world's leading medical technology companies and is dedicated to helping healthcare professionals perform their jobs more efficiently while enhancing patient care.

The Shearman & Sterling team was led by New York M&A partner Clare O'Brien and included partners John Cannon (New York-Executive Compensation & Employee Benefits), Don Lonczak (Washington, DC-Tax) and Sam Waxman (New York-Intellectual Property Transactions) and associates Tania Mattei (New York-Mergers & Acquisitions), Dorman Yale (New York-Mergers & Acquisitions), Tim Hanson (New York-Mergers & Acquisitions), Jordan Altman (New York-Intellectual Property Transactions), Jeff Tate (Washington, DC-Tax) and Molly Stark (New York-Executive Compensation & Employee Benefits).