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Boston Scientific Corporation Message Board

  • Eagles_PA Eagles_PA Nov 9, 1998 8:40 PM Flag

    Questions

    New to BSX and this board. Am greatly concerned
    about some of the latest news out of management.


    First, the open debate with FDA in public, slow recall
    of SOX financial irregularities, is there an end to
    this trend?

    Need to consult with my heart doc
    friends. Will be back later.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I had wondered just how much influence GPOs had
      in this particular arena. BTW, I agree with your
      comment that clinical preference guides investment more
      than the other way around. I think that's why the
      doctors on this board have such deeply held views -- sort
      of a matter of professional pride as much as
      investment savvy!

    • Spent some time today talking with some of my
      Cardiologist friends. They're clearly not happy with BSX
      Management, their lack of common sense as well as short
      sightedness ( accounting glitches, SOX fight with the FDA,
      etc.). They're even more unhappy with the stock tailspin
      as a result of these actions.

      A couple of
      them brought up the subject of Medinol, the Israeli
      stent company who BSX is in bed with. Just how close
      are BSX and Medinol? Can some of these "glitches"
      extend beyond the walls of BSX? BSX is in a negative
      snowball and I'm wondering where it comes to rest. Any
      other actions in the recent past that could possibly
      expand the snowball?

      • 3 Replies to Eagles_PA
      • I hope your physician friends are notjust
        relating their feelings about BSX because they are stock
        holders. Sounds like to me they are and have taken this
        personal. (I believe we all have due to our financial
        interest.) Your concerns about your physicians sound like
        nothing more than that...oh by the way, does conflict of
        interest come into play here with the docs buying the
        stock and using the product or is there something I am
        missing here.

      • Eagle, I am a bit confused by your post on your
        cardiology friends?

        <<They're clearly not happy
        with BSX Management, their lack of common sense as
        well as short sightedness ( accounting glitches, SOX
        fight with the FDA, etc. They areen more unhappy with
        the stock tailspin as a result of these
        actions.)>>

        I assume you are conveying their dissatisfaction as
        investors, not as customers.

        <<A couple of them
        brought up the subject of Medinol, the Israeli stent
        company who BSX is in bed with. Just how close are BSX
        and Medinol?>>

        Obviously very close but
        who cares? From what I hear the NIR is a pretty good
        product. And if you look at BSX's balance sheet, their
        gross margins as a company are terrific. It's their
        opex that they are having trouble
        managing.

        <<Can some of these "glitches" extend beyond the walls
        of BSX? BSX is in a negative snowball and I'm
        wondering where it comes to rest. Any other actions in the
        recent past that could possibly expand the
        snowball?>>

        Huh?

      • First I am not long or short this stock but just
        looking for information.

        With all the outstanding
        issues with BSX I cant see anyone coming in and buying
        them now. The company is in "short term" mess and if
        anyone were to be considering buying BSX those plans are
        on longer term hold.

        Secondly this company
        has been on a rampage the past couple years on merges
        and aqusitions. Has anyone analyzed the accounting
        procedures that were used in these aquisitions? I read a
        earlier report that stated BSX was "pushing" the envelope
        on write downs associated with some of the past
        deals. Sometimes it takes a year to see how these legal
        aggressive accounting may hurt the balance sheet on year
        over year comparisons on earnings and expenses.


        Secondly, are we may be moving to parity in the stent
        market in the next six to nine months. Once we have the
        following stents released onto the US market we may start
        to see "pricing" pressure.

        BSX's- Nir w/sox
        on Ranger
        AVEI's-GFX II
        GDT's-Duet- released
        last week

        Of the three does BSX have the
        highest cost structure. Is BSX postioned the worst for a
        fall in revenues? Can anyone confirm if the aqusition
        cost for BSX on the Nir from it's manufacture is in
        the $900 range? The other companies BSX competes with
        have much lower cost structure.

        I am not
        currently in on BSX and dont want to bring a negative tone
        to the board but these are my concerns.


        Thanks in advance,
        Mike

 
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