BOSTON SCIENTIFIC CORP (BSX)

Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices used in a broad range of interventional medical specialties. Its mission is to transform lives through innovative medical solutions. For more than 45 years it has advanced less-invasive medicine, giving physicians alternatives to surgery and other traumatic procedures for diagnosing and treating cardiovascular, respiratory, digestive, oncological, neurological and urological diseases. The company pursues five strategic imperatives: strengthening category leadership, expanding into high-growth adjacencies, driving global expansion, funding the journey to fuel growth, and developing key capabilities. It has completed numerous acquisitions to support this strategy.

The business is organized into two reportable segments, MedSurg and Cardiovascular. In the fourth quarter of 2025 the legacy Cardiology and Peripheral Interventions businesses were combined into a single Cardiovascular business, with no change to the reportable segments. The business units described cover: - Endoscopy: hemostatic clips, biliary and pancreatic stents, single-use scopes such as SpyGlass, and the OverStitch and Orbera endoluminal surgery products. - Urology: kidney stone management products, lasers, BPH therapies, prosthetics, SpaceOAR hydrogel, and pelvic floor products including Axonics. - Neuromodulation: spinal cord stimulators, Intracept, radiofrequency ablation, and the Vercise Genus deep brain stimulation system. - Interventional Cardiology and Vascular Therapies: intravascular imaging, atherectomy, SYNERGY stents, AGENT and Ranger drug-coated balloons, thrombectomy products, and Varithena. - WATCHMAN left atrial appendage closure devices. - Electrophysiology: the FARAPULSE pulsed field ablation system and mapping and access products. FARAPULSE is now the predominant component of this unit and its revenue. - Cardiac Rhythm Management: defibrillators, pacemakers, insertable cardiac monitors and remote monitoring systems. - Interventional Oncology and Embolization: TheraSphere Y-90, cryoablation and embolization devices.

In 2025 the company acquired the remaining shares of Bolt Medical and SoniVie. On January 15, 2026 it announced a definitive agreement to acquire Penumbra, a thrombectomy company, for about $14.5 billion. Closing is expected during 2026, funded by cash, newly issued debt of about $11.0 billion, and shares of common stock.

Boston Scientific markets to hospitals, clinics, outpatient facilities and medical offices in 127 countries. Large group purchasing organizations, hospital networks and other buying groups account for a substantial portion of net sales. Each business has dedicated sales and marketing teams focused on specialist physicians and hospital service line administrators. Most net sales come from countries with direct sales organizations, and distributors and dealers serve other markets. Sales are not significantly seasonal, though purchases have historically been lower in the first and third quarters. The company is also expanding in emerging markets.

Competitors include large multi-line manufacturers, single-product or niche medical device companies, low-cost entrants, local companies such as those in China, and non-device companies offering alternative therapies. Research and development is conducted at facilities and centers of excellence worldwide, with collaborations among research institutions, universities and clinicians. Many components come from widely available materials and multiple sources, but some are custom-made or single-sourced, and the company runs a supplier resiliency program. It protects its technology through patents, trademarks, trade secrets and licenses. Its products are regulated by the FDA, EU authorities under the MDR, and agencies in China, Japan and elsewhere.