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Boston Scientific has agreed to sell its fluid management and venous access businesses to a private equity firm for $425 million in cash.

The sale of the two units was part of Boston Scientific’s plan presented in August to divest certain non-strategic assets. The combined units are expected to operate as an independent company under a new name once the deal is complete, according to the company.

Last month, the company began the process to sell its cardiac and vascular surgery businesses to Getinge Group for $750 million.

The fluid management unit makes products to manage and measure fluids during angiography and angioplasties. The venous access division produces devices that allow doctors to deliver drugs and food intravenously.

The Natick, Mass.-based Boston Scientific said that the sale is expected to close in the first quarter of 2008.