NORWOOD, Mass.--(BUSINESS WIRE)--Aspect Medical Systems, Inc. (NASDAQ: ASPM) announced today that it has entered into a letter agreement with Boston Scientific Corporation pursuant to which Aspect has agreed to waive specified provisions of the termination and repurchase agreement entered into by the parties on June 11, 2007. Pursuant to the repurchase and termination agreement, Boston Scientific agreed, among other things, that for a period of 180 days after the date of the agreement, it would not sell any of its shares of Aspect Common Stock to a third party, and Boston Scientific granted to Aspect a call option, exercisable by Aspect in one or more transactions during the 180-day period, to purchase up to all of the remaining shares of Aspect Common Stock held of record by Boston Scientific on the date of the agreement. Aspect has agreed to waive the lock-up and the call option set forth in the agreement with respect to the remaining 1,513,239 shares of Aspect Common Stock currently held of record by Boston Scientific because Boston Scientific and a third party, OrbiMed Advisors LLC, have reached an agreement pursuant to which OrbiMed will purchase all of such shares. The parties have also agreed to terminate the registration rights agreement dated as of June 11, 2007 by and between Aspect Medical and Boston Scientific relating to such shares.
