(NYSE: BSX) announcement late Thursday that it would acquire San Clemente, Calif.-based Cameron Health for up to $1.35 billion is being met with cheers from some corners, Friday.

While the Natick, Mass.-based company’s stock was up only slightly on the news, analyst Rick Wise at Boston life sciences investment bank Leerink Swann said the purchase of Cameron is a major positive for Boston Scientific, “with the potential to transform the longer-term outlook for BSX’s lagging CRM business.”

Cameron has developed the first subcutaneous implantable cardioverter defibrillator. Boston Scientific's Cardiac Rhythm Management (CRM) division accounts for 28 percent of the company's sales, and has been buffeted by a variety of factors including competition and constrained hospital budgets.

“Though near-term cardiology market conditions remain challenging, to us BSX’s turnaround remains substantially under way,” Wise continued in his note. Cameron Health’s product, called the S-ICD, could be approved by the FDA by the first half of 2013. The device has already been approved in Europe.

Moody’s Investors Service also issued a note Friday, saying that while it was not raising its outlook or changing its rating on the company’s debt, that it views the acquisition as a credit positive. Standard and Poor’s also issued a note, affirming its BBB- rating and stable outlook, saying the company can afford “to absorb a modest revenue decline in 2012 and fund the Cameron Health acquisition with internally funded cash."

Boston Scientific’s stock was trading at $5.98 Friday afternoon, up from $5.93 at the previous close.