Jim Tobin, the former CEO of Boston Scientific (NYSE:BSX) who oversaw the $27 billion acquisition of Guidant Corp. in 2006, joined the board of directors at Oxford Immunotec Global (NSDQ:OXFD), that company said yesterday.
The Oxford, U.K.- and Marlborough, Mass.-based British firm makes diagnostics tests for the immunology field.
"Jim is a highly regarded medical technology executive who will be a great addition to our board," Oxford Immunotec CEO Peter Wrighton-Smith said in prepared remarks. "Jim’s extensive experience in the healthcare industry, both domestic and international, will be invaluable to our Company as we look to further grow our business and drive adoption of our products."
Tobin was CEO at Boston Scientific from 1999 until 2009 and shepherded the company through its acquisition of Guidant, labeled as the 2nd-worst merger in corporate history. BSX shelled out $27 billion in cash and stock for Guidant after a bidding war with Johnson & Johnson (NYSE:JNJ). Repercussions from the Guidant buyout are still reverberating to this day; J&J is seeking a $7.2 billion damages award in a lawsuit filed over its jilting by Guidant.
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