The device replacements will cause companies to forgo revenue producing replacement units in future years.

Greater clarity regarding this transaction and future growth goals (without the Guidant acquisition) are needed.

Greater clarity regarding this transaction and future growth goals (without the Guidant acquisition) are needed,

We believe it will be critical for BSX to carefully manage its interaction with the FDA.

We believe it will be critical for BSX to carefully manage its interaction with the FDA,

Overall, we found results in the quarter to be generally weak, but believe the strong market reaction was justified given the anticipated completion of the Guidant vascular acquisition.