Boston Scientific, saddled with debt and a depressed share price since buying Guidant last year, said on Monday it may sell a minority stake in its endosurgery business for more than $1 billion in a public offering.
Boston Scientific said it would use the proceeds from the sale of the stake to pay down debt. The endosurgery business makes endoscopy, urology, gynecology and oncology products.
The company, which acquired Guidantin April 2006 for $27 billion, has net debt of $7.2 billion.
The endosurgery unit is expected to generate more than $1.4 billion in revenue in 2007.