Surgical Device Makers Strike Deal

Boston Scientific Corp., a fast-growing maker of sophisticated miniature surgical devices, said Wednesday it will buy Heart Technology Inc., a pioneer of a machine that drills open clogged arteries.

The purchase is the latest in a series by Boston Scientific, based in suburban Natick, Mass., as it diversifies its products. The company, which earned $80 million last year on revenues of $448.9 million, is projected by some analysts to double both figures this year.

Boston Scientific chief executive Pete Nicholas said the $500 million stock swap purchase of Heart Technology will broaden his company’s line of devices for treating circulatory diseases without extensive surgery.

Redmond, Wash.-based Heart Technology makes a device called a Rotablator used to remove fatty plaque on the walls of arteries in the heart and legs.

Heart Technology’s revenues nearly tripled last year to $58.4 million and it earned a profit of $14 million compared with a loss of $2 million a year earlier.