Boston Scientific Corporation (BSX) is a global leader in the development, manufacturing, and marketing of medical devices used across a wide range of interventional medical specialties. The company is dedicated to transforming lives through innovative medical solutions that improve patient health worldwide. Boston Scientific sells medical devices primarily for less-invasive procedures, offering alternatives to traditional surgery and other more traumatic medical interventions.
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Cardiovascular - Provides devices for treating coronary artery disease, structural heart conditions, and peripheral vascular diseases. Includes sub-segments such as:
- Interventional Cardiology Therapies - Devices for coronary artery disease and structural heart conditions.
- Watchman - Left atrial appendage closure devices for stroke risk reduction in atrial fibrillation patients.
- Cardiac Rhythm Management - Pacemakers, defibrillators, and related technologies.
- Electrophysiology - Tools for diagnosing and treating heart rhythm disorders.
- Peripheral Interventions - Devices for treating peripheral vascular diseases.
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MedSurg - Offers medical devices for various medical specialties, focusing on less-invasive procedures. Includes sub-segments such as:
- Endoscopy - Devices for diagnosing and treating gastrointestinal and pulmonary conditions.
- Urology - Solutions for urological and pelvic health conditions.
- Neuromodulation - Technologies for managing chronic pain and neurological disorders.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Daniel J. Brennan ExecutiveBoard | Executive Vice President and Chief Financial Officer | Member of the board of directors at Waters Corporation since 2022 | Daniel J. Brennan has served as the Executive Vice President and Chief Financial Officer at Boston Scientific since January 2014, leading key global functions. He joined BSX in December 1996 and has held various senior roles contributing to the company's financial strategy. | |
Michael F. Mahoney ExecutiveBoard | President and Chief Executive Officer | Director at CVS Health Corporation; Board Member at Boys & Girls Club of Boston; Chair of the Board of Governors at Boston College CEO Club; Member of American Heart Association CEO Roundtable | Michael F. Mahoney has served as President and Chief Executive Officer of Boston Scientific Corporation since October 2011 (joined as President) and became CEO in November 2012, later assuming the role of Chairman in May 2016. He brings extensive healthcare leadership experience and also holds external directorships, including his role as Director at CVS Health Corporation. | View Report → |
Wendy Carruthers ExecutiveBoard | Executive Vice President, Human Resources | Board of Directors, Envista Holdings Corporation; Board of Directors, Boston Scientific Foundation; Board of Directors, Greater Boston Food Bank Emeriti Board | Wendy Carruthers has served as the Executive Vice President, Human Resources at BSX since February 2022, overseeing global human resources operations. She previously held roles including Senior Vice President, Human Resources from December 2012 to February 2022 and Vice President, Global Talent Management from January 2011 to November 2012. | |
Arthur C. Butcher Executive | Executive Vice President and Group President, MedSurg and Asia Pacific | STAAR Surgical Company; Acotec Scientific Holdings Limited | Arthur C. Butcher has served as the Executive Vice President and Group President, MedSurg and Asia Pacific at BSX since May 2022. He joined BSX in 1997 and has held several progressive leadership roles, while also serving on the boards of STAAR Surgical Company (since 2024) and Acotec Scientific Holdings Limited (since 2022). | |
Eric Thépaut Executive | Executive Vice President and President, Europe, Middle East and Africa | Eric Thépaut has been serving as the Executive Vice President and President, Europe, Middle East and Africa at BSX since February 2020. He previously held roles as Senior Vice President and President, Europe, Middle East and Africa from December 2017 to January 2020, and has built a distinguished career within BSX with extensive experience in finance and marketing. | ||
Jeffrey B. Mirviss Executive | Executive Vice President and President, Peripheral Interventions | Jeffrey B. Mirviss is the Executive Vice President and President, Peripheral Interventions at Boston Scientific since February 2020. He previously led the Peripheral Interventions division as Senior Vice President and President from January 2013 to January 2020 and has been with the company since 1997. | ||
John Bradley Sorenson Executive | Executive Vice President, Global Operations | John Bradley Sorenson has been the Executive Vice President, Global Operations at BSX since May 2022, overseeing functions such as Global Supply Chain and Corporate Research and Development. Previously, he served as Senior Vice President, Manufacturing and Supply/Global Supply Chain from November 2014 to May 2022. | ||
Joseph M. Fitzgerald Executive | Executive Vice President and Group President, Cardiology | Joseph M. Fitzgerald is the Executive Vice President and Group President, Cardiology at BSX since May 2022. He has held various leadership roles within BSX, including positions in Interventional and Rhythm Management groups. | ||
Miriam O’Sullivan Executive | Senior Vice President, Chief Human Resources Officer | Miriam O’Sullivan is the Senior Vice President and Chief Human Resources Officer at Boston Scientific since January 1, 2025, overseeing global HR functions. Previously, she advanced through key leadership roles at BSX, including Group Vice President of Human Resources, Cardiology (2021–2025) and Director of Human Resources in 2012. | ||
Vance R. Brown Executive | Senior Vice President, General Counsel, and Corporate Secretary | Vance R. Brown is the Senior Vice President, General Counsel, and Corporate Secretary at Boston Scientific Corporation since June 2021. Previously, he served as Vice President, Chief Corporate Counsel, and Assistant Secretary from 2010 to June 2021. | ||
Cheryl Pegus Board | Independent Director | President, Caluent, LLC; Current Board Member, American Heart Association | Dr. Cheryl Pegus serves as an Independent Director at Boston Scientific Corporation since May 8, 2024 and has over 25 years of healthcare leadership experience, including roles such as First Chief Medical Officer at Walgreens and Executive Vice President of Health & Wellness at Walmart. | |
David C. Habiger Board | Board of Directors Member | CEO of J.D. Power; Director at Chicago Federal Reserve Board; Director at EnerSys; Director at Reddit, Inc.; Director at Xperi Inc.; Trustee at Rush University Medical Center | David C. Habiger has been a Board of Directors Member at Boston Scientific Corporation since July 30, 2024 and brings extensive executive leadership experience, including serving as CEO of J.D. Power since March 2018. | |
David Habiger Board | Member of the Board of Directors | President and Chief Executive Officer of J.D. Power | David Habiger serves as a Member of the Board of Directors at BSX since July 30, 2024. He brings over 30 years of leadership experience and currently serves as President and Chief Executive Officer at J.D. Power. | |
David S. Wichmann Board | Independent Director | Director at Privia Health Group, Inc.; Board member at private companies with Jory Capital investment | David S. Wichmann has served as an independent director at BSX since June 2021. He previously held executive roles at UnitedHealth Group, including CEO from September 2017 to March 2021, as well as roles such as CFO and President. | |
Dr. Cheryl Pegus Board | Independent Director on the Board of Directors | Board Member of Concentra; Board Member of American Heart Association; President of Caluent, LLC; Co-founder of A New Beat | Dr. Cheryl Pegus was elected as an independent director to BSX’s Board of Directors on May 8, 2024, and brings extensive experience from key healthcare roles at organizations such as Walgreens and Walmart. | |
Edward J. Ludwig Board | Lead Independent Director | CVS Health Corporation: Chair of the Audit Committee | Edward J. Ludwig has served as a director at BSX since March 2014 and as Lead Independent Director since May 2016. He has also contributed externally as a board member and Chair of the Audit Committee at CVS Health Corporation. | |
Ellen M. Zane Board | Director | Director at Haemonetics Corporation; Director at Synchrony Financial; Director at Savista; Director at Fiduciary Trust Company; Director at AgNovos Healthcare, LLC | Ellen M. Zane is a director at BSX since April 2016 and serves as Chair of the Executive Compensation and Human Resources Committee as well as a member of the Nominating and Governance Committee. She has extensive healthcare leadership experience, having previously served as CEO of Tufts Medical Center and held executive roles at Mass General Brigham and Quincy Hospital. | |
Jessica L. Mega Board | Independent Director | Director at Danaher Corporation; Board Advisor at Duke-Margolis Center for Health Policy; Board Advisor at Stanford's Center for Digital Health; Board Advisor at Research!America | Jessica L. Mega is an independent director at BSX since June 2023, serving on the Executive Compensation and Human Resources Committee and the Risk Committee. Previously, she served as Co-Founder and Chief Medical and Scientific Officer at Verily Life Sciences from March 2015 to January 2023. | |
John E. Sununu Board | Director | CFO of Teletrol Systems; Council Member of Lloyds of London; Director of Time Warner Cable Inc.; Director of BlueRiver Acquisition Corp | John E. Sununu has been a Director at BSX since April 2009 and serves as Chair of the Nominating and Governance Committee as well as a member of the Audit Committee. He brings diverse experience from previous roles including CFO of Teletrol Systems, U.S. Senator, and other leadership positions. | |
Susan E. Morano Board | Independent Director | Susan E. Morano has served as an independent director at BSX since June 2023, sitting on the Audit Committee (as a financial expert) and the Nominating and Governance Committee. Previously, she held executive roles at Johnson & Johnson, including Vice President of Business Development and Strategic Operations from 2020 through February 2023 and Vice President of Business Development starting in 2012. | ||
Yoshiaki Fujimori Board | Independent Director | Oracle Corporation Japan; Takeda Pharmaceutical Company Limited; Senior Executive Advisor, Japan at CVC Capital Partners; Director at Blaize, Inc. | Yoshiaki Fujimori has served as an Independent Director at BSX since July 2016 and currently chairs the Risk Committee since April 1, 2024. Previously, he held executive leadership roles at GE and served as CEO at LIXIL Group Corporation. |
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Can you provide more details on the unanticipated observations that led to the temporary pause of the AVANT GUARD trial for FARAPULSE in drug-naïve persistent AF patients, and how might this impact your timeline for resuming enrollment and obtaining label expansion?
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With new pulse field ablation (PFA) catheters entering the market, what specific strategies are you implementing to ensure that existing FARAPULSE customers remain loyal and to attract new users, especially given the competitive landscape?
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In the U.S., your core Cardiac Rhythm Management (CRM) growth was below market. What factors contributed to this underperformance, and what actions are you taking to improve your position in this segment?
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Regarding the upcoming presentation of the ACURATE neo2 trial data at TCT, if the results are not as positive as anticipated, how will this affect your TAVR strategy in the U.S., and what contingency plans do you have in place?
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Given your expectation that pulse field ablation adoption may exceed the previously communicated range of 40% to 60% of global AF ablations by 2026, do you foresee any potential supply constraints, and how are you ensuring your manufacturing capacity can meet this increased demand?
Research analysts who have asked questions during BOSTON SCIENTIFIC earnings calls.
Danielle Antalffy
UBS Group AG
6 questions for BSX
David Roman
Goldman Sachs Group Inc.
6 questions for BSX
Travis Steed
Bank of America
6 questions for BSX
Joanne Wuensch
Citigroup Inc.
5 questions for BSX
Larry Biegelsen
Wells Fargo & Company
5 questions for BSX
Patrick Wood
Morgan Stanley
5 questions for BSX
Vijay Kumar
Evercore ISI
5 questions for BSX
Robert Marcus
JPMorgan Chase & Co.
4 questions for BSX
Frederick Wise
Stifel
3 questions for BSX
Joshua Jennings
TD Cowen
3 questions for BSX
Michael Polark
Wolfe Research
3 questions for BSX
Rick Wise
Stifel Financial Corp
3 questions for BSX
Chris Pasquale
Nephron Research LLC
2 questions for BSX
Matthew Miksic
Barclays PLC
2 questions for BSX
Pito Chickering
Deutsche Bank
2 questions for BSX
Robbie Marcus
JPMorgan Chase & Co.
2 questions for BSX
Anthony Petrone
Mizuho Group
1 question for BSX
Christopher Pasquale
Nephron Research
1 question for BSX
Danielle Antalffy
UBS
1 question for BSX
Joanne Winch
Citibank
1 question for BSX
Lawrence Biegelsen
Wells Fargo
1 question for BSX
Marie Thibault
BTIG
1 question for BSX
Matthew O'Brien
Piper Sandler & Co.
1 question for BSX
Matt O'Brien
Piper Sandler Companies
1 question for BSX
Michael Pollard
Wolfe Research
1 question for BSX
Mike Polark
Wolfe Research, LLC
1 question for BSX
Peter Chickering
Deutsche Bank AG
1 question for BSX
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company encounters significant competition from this entity across its product lines and markets, as it is one of the primary competitors in the medical device industry. | |
This entity is identified as a primary competitor in the medical device markets where the company operates, competing across various product lines and market segments. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Cortex, Inc. | 2025 | Boston Scientific acquired Cortex, Inc. for an upfront cash payment of $248 million with up to $50 million in contingent payments, integrating Cortex’s diagnostic mapping solution for atrial fibrillation into its Cardiology division. |
Bolt Medical, Inc. | 2025 | Boston Scientific’s acquisition of Bolt Medical, Inc. involves an upfront payment of about $443 million for the remaining 74% stake (in addition to its existing 26% equity) plus $221 million contingent on regulatory milestones; the deal expands its cardiovascular portfolio with an advanced intravascular lithotripsy platform integrated into the Cardiology and Peripheral Interventions divisions. |
Axonics, Inc. | 2024 | The acquisition of Axonics, Inc. was completed for $71 per share, totaling an equity value of $3.7 billion funded by cash and new debt; it expands the Urology division by adding sacral neuromodulation systems and related urinary continence devices. |
Silk Road Medical, Inc. | 2024 | Boston Scientific acquired Silk Road Medical, Inc. for $27.50 per share (approximately $1.18 billion enterprise value), funding the deal with cash on hand and potential commercial paper, and integrating its transcarotid artery revascularization platform into the Peripheral Interventions division to enhance stroke prevention offerings. |
Intera Oncology, Inc. | 2024 | A definitive agreement was announced to acquire Intera Oncology, Inc. (expected to complete in the first half of 2025), which brings the Intera 3000 Hepatic Artery Infusion Pump and floxuridine into Boston Scientific’s interventional oncology portfolio for treating liver-dominant metastases; financial terms remain undisclosed. |
Apollo Endosurgery, Inc. | 2023 | Completed on April 4, 2023, this acquisition involved an upfront cash payment of $636 million; Apollo Endosurgery’s suite of endoluminal devices was integrated into the Endoscopy division, contributing positively to Q2 net sales growth. |
Acotec | 2023 | Completed on February 20, 2023, Boston Scientific acquired approximately 65% of Acotec for an upfront cash payment of about $519 million (net $381 million after cash on hand), strengthening its Peripheral Interventions portfolio in China with drug-coated balloons and related technologies. |
Baylis Medical Company Inc. | 2022 | Acquired on February 14, 2022, the deal involved an upfront cash payment of $1.75 billion (netting approximately $1.47 billion), integrating advanced transseptal access solutions into the Cardiology division to bolster electrophysiology and structural heart therapy products. |
M.I. Tech Co., Ltd. | 2022 | Boston Scientific acquired approximately 64% of M.I. Tech for KRW 291.2 billion (roughly $230 million), with the deal expected to close in the second half of 2022; it is aimed at complementing the Endoscopy portfolio by adding medical devices for endoscopic and urological procedures. |
Recent press releases and 8-K filings for BSX.
- The Cardiovascular Repair & Reconstruction Devices Market was valued at USD 4.32 billion in 2024 and is projected to reach USD 7.11 billion by 2032 at a 6.41% CAGR.
- Innovations such as bioresorbable scaffolds, drug-coated implants, advanced catheter-based imaging and robotics, plus digital health and remote monitoring, are reshaping the sector.
- New U.S. tariffs on imported repair components in 2025 have driven cost pressures, prompting manufacturers to form local partnerships and expand domestic production for supply-chain resilience.
- The report offers detailed segmentation by product type, technology, application, end-user, material, and region, supporting strategic decision-making and market entry planning.
- Revenue was $5.065 B, up 19.4% operationally (organic +15.3%), including a 90 bp FX tailwind.
- Adjusted EPS of $0.75, up 19%, with an adjusted operating margin of 28%.
- Raised FY ’25 organic growth guidance to ~15.5%; Q4 organic growth of 11–13%; full-year adjusted EPS guidance now $3.02–3.04.
- Strong segment performance: EP sales +63% and WATCHMAN +35%, while EMEA faced transient headwinds.
- Free cash flow of $1.163 B in Q3; FY ’25 FCF expected ~$3.5 B; gross debt leverage at 2.0× end-Q3.
- Organic sales grew 15% and operational sales rose 19% in Q3 2025, beating guidance, with adjusted EPS of $0.75 up 19% year-over-year.
- U.S. revenue jumped 27%, while EMEA declined 2% due to Accurate valve discontinuation (
$50 M) and an ERP-related backorder ($30 M); ex-these headwinds, EMEA would have grown high single digits. Asia-Pacific delivered 17% growth, led by Japan and China. - Q4 2025 organic growth is guided at 11%–13%, full-year organic growth at 15.5%, Q4 adjusted EPS of $0.77–0.79, and FY adjusted EPS of $3.02–3.04 (20%–21% growth).
- Gross margin expanded 60 bps to 71% in Q3, with full-year gross margin expected to slightly improve despite a ~$100 M tariff headwind; Q3 free cash flow was $1.163 B, with FY FCF forecast at ~$3.5 B and a gross debt leverage ratio of 2.0x.
- Strong execution across key franchises—Watchman, electrophysiology, ICTX, endoscopy—and agreement to acquire Nalu Medical (closing expected H1 2026) to expand neuromodulation portfolio.
- Net sales rose 20.3% year-over-year to $5.065 billion, with organic growth of 15.3% in Q3 2025.
- Cardiovascular net sales grew 22.4% to $3.343 billion and MedSurg net sales were $1.722 billion, up 16.4% year-over-year.
- Adjusted operating margin improved to 28.0% from 27.2%, and adjusted gross margin increased to 71.0% from 70.4%.
- Free cash flow was $1.163 billion in Q3 2025, with estimated FY 2025 free cash flow of ~$3.5 billion.
- Guidance for Q4 2025 net sales growth is 14.5%–16.5% reported and adjusted EPS of $0.77–$0.79; full year reported net sales growth of ~20% and adjusted EPS of $3.02–$3.04.
- Net sales of $5.065 billion, up 20.3% reported (19.4% operational; 15.3% organic) year-over-year.
- GAAP net income of $755 million ($0.51 per share) and adjusted EPS of $0.75, both exceeding guidance ranges.
- Segment net sales growth: MedSurg +16.4%, Cardiovascular +22.4%; regional performance: U.S. +27.0%, EMEA +2.6%.
- 2025 guidance raised: full-year net sales up ~20% reported (15.5% organic); GAAP EPS $1.97–$2.01, adjusted EPS $3.02–$3.04; Q4 net sales +14.5–16.5%, GAAP EPS $0.48–$0.52, adjusted EPS $0.77–$0.79.
- Boston Scientific reported Q3 net sales of $5.065 billion, up 20.3% reported, 19.4% operational, and 15.3% organic year-over-year.
- GAAP EPS of $0.51 and adjusted EPS of $0.75 for Q3, compared to $0.32 and $0.63 a year ago, respectively.
- Raised full-year 2025 guidance to ~20% reported / ~15.5% organic net sales growth, with GAAP EPS of $1.97–2.01 and adjusted EPS of $3.02–3.04; Q4 outlook of 14.5–16.5% reported / 11–13% organic net sales growth and EPS of $0.48–0.52 GAAP / $0.77–0.79 adjusted.
- Announced strategic actions including discontinuation of ACURATE neo2 ™ and Prime ™ valve systems, PMDA approval for FARAPULSE, launch of the AGENT DCB STANCE trial, and acquisitions of Elutia’s EluPro BioEnvelope/CanGaroo Envelope and Nalu Medical’s neuromodulation system.
- Boston Scientific to acquire Nalu Medical for $533 million, expanding its chronic peripheral nerve pain management portfolio.
- Nalu’s FDA-cleared (2019) neurostimulation system features a miniaturized, battery-free implant powered wirelessly and controlled via a smartphone.
- In the COMFORT trial, 79% of patients reported 64% average pain relief at six months.
- The deal, following Boston Scientific’s strategic investment since 2017, is set to close in H1 2026 and be profit accretive from 2027.
- Boston Scientific entered into a definitive agreement to acquire Nalu Medical, a private medical technology company specializing in peripheral nerve stimulation for chronic pain.
- The transaction involves an upfront cash payment of $533 million for the remaining equity in Nalu Medical and is expected to close in 1H 2026.
- Nalu Medical is projected to generate sales in excess of $60 million in 2025 with year-over-year growth exceeding 25% in 2026.
- On an adjusted basis, the acquisition is expected to be immaterial to EPS in 2026 and slightly accretive in 2027.
- Microbot Medical will exhibit its LIBERTY® Endovascular Robotic System at the Symposium on Clinical Interventional Oncology in Miami on October 17–19, marking its first U.S. medical meeting presence post-FDA 510(k) clearance.
- The company has completed recruiting its commercial leadership team, including Regional Sales Director Justin Bourne and Sales Training Director Dani Kulp, to support launch activities.
- Xiomara Ortiz joined as Marketing Communications Manager to drive brand presence and engagement across digital channels.
- Microbot remains on track for a limited market launch of the LIBERTY® System in Q4 2025.
- Boston Scientific acquired Elutia’s BioEnvelope business, including the EluPro™ and CanGaroo® bioenvelopes, for $88 million in cash.
- Proceeds strengthen Elutia’s balance sheet, enabling a focused push on advancing NXT-41x, a drug-eluting biomatrix for breast reconstruction slated for first half of 2027 market launch.
- The U.S. total addressable market for breast reconstruction biologics is estimated at $1.5 billion annually, driven by over 150,000 procedures and high complication rates.