BOSTON SCIENTIFIC (BSX) Company Report

Boston Scientific’s EP business, led by its FARAPULSE PFA ecosystem, is growing at roughly 2× the market since EU launch in 2021 and US entry in 2024; the company targets 80% PFA penetration by 2028 with forthcoming catheter approvals and ecosystem integrations.
The Watchman LAAC franchise is expected to sustain 20+% CAGR contingent on positive OPTION (completed) and CHAMPION (3,000-patient trial readout in H1 2026) results, potentially expanding the TAM to $6 billion by 2030.
In interventional cardiology, the internally developed Seismic IVL device is completing the Fracture ID trial in Q1 2026 with a planned commercial launch in H1 2027, and BSX has acquired an ultrasound-based renal denervation platform emphasizing depth of ablation and ease of use.
BSX is modernizing its CRM portfolio via the “Denali” program, having filled conduction system pacing gaps with new approvals and pursuing leadless EMPOWER systems under FDA review, while preparing for the shift of ablations and PCI into ASCs.
The company is embedding AI into imaging, with periodic software updates for the Avvigo+ IVUS system and planned AI-driven 2D/4D ICE and TEE enhancements for EP and Watchman procedures by 2027.

3 days ago

Transcript

Boston Scientific outlines pipeline growth and trial updates at Citi Healthcare Conference 2025

BSX

Product Launch

New Projects/Investments

EP business doubling market growth via the FARAPULSE ecosystem (FARAWAVE catheter integrated with Opal mapping), targeting 80% PFA penetration by 2028 and adding FARAPOINT to expand indications.
Watchman first-line CHAMPION trial (3,000 patients) reads out H1 2026, with positive results expected to expand the eligible population to 20 million and TAM to $6 billion by 2030.
Coronary IVL (Seismic) Fracture ID trial completes Q1 2026 with a H1 2027 launch; acquired ultrasound-based RDN device offers a single-device, ease-of-use therapy for hypertension.
CRM portfolio reboot (‘Denali’) nearing completion, with conduction system pacing approved in US/EU and leadless EMPOWER/modular systems under FDA review to drive market share.

3 days ago

Transcript

Boston Scientific presents at Citi Annual Global Healthcare Conference 2025

BSX

Product Launch

New Projects/Investments

Emphasis on Farapulse PFA ecosystem in electrophysiology, driving ~2× market growth with Farawave catheter and Opal mapping integration; targeting >80% PFA penetration by 2028 across key markets.
Long-term 20+% CAGR for Watchman hinging on positive OPTION and CHAMPION trials; CHAMPION’s 3,000-patient, first-line study readout expected H1 2026, aiming to expand Watchman TAM to $6 billion by 2030.
Seismic intravascular lithotripsy device in Fracture ID trial (completion Q1 2026) with planned commercial launch H1 2027 to treat calcified coronary lesions (~33% prevalence).
Acquisition of ultrasound-based renal denervation technology for hypertension, offering a single-device, circumferential energy delivery with deeper arterial penetration and simple workflow.
Complete refresh of CRM portfolio (“Denali”) underway, addressing conduction system pacing and leadless gaps with next-gen platforms (EMPOWER leadless and modular systems) pending approvals.

3 days ago

Transcript

Boston Scientific outlines Watchman growth drivers and PFA expansion at Wolf Research Healthcare Conference

BSX

M&A

Boston Scientific CMO Ken Stein explained the Closure trial failed to meet non-inferiority due to high procedural complications with legacy LAAC devices and dual antiplatelet therapy, but real-world data suggest Watchman Flex would have met endpoints.
The Champion trial readout is expected in H1 2026 at a major conference (AF Symposium, ACC or HRS), with a label update timeline of ~7–8 months and Medicare national coverage determination (~12 months) required for first-line Watchman use.
Concomitant Watchman implants paired with AF ablation are projected to be 25% of procedures by end-2025, driven by EP adoption and synergistic FARAWatch approaches.
FARAPulse pulsed-field ablation has achieved >50% global (and ~60% US) penetration in de novo AF ablations, with single-digit one-year redo rates, bolstered by the Cortex mapping acquisition and ongoing REMATCH and other trials.
Additional growth areas highlighted include renal denervation via TIVUS ultrasound catheter, agent drug-coated balloons, Bolt intravascular lithotripsy, endoscopic bariatrics, and Y90 beads in interventional oncology.

Nov 18, 2025, 1:00 PM

Transcript

Boston Scientific spotlights Watchman growth and PFA momentum at Wolfe Research Healthcare Conference

BSX

A recent German LAAC “closure” trial failed to meet non-inferiority vs. medical therapy due to high procedural complications with mixed, older devices; real-world data suggest Watchman Flex would likely meet non-inferiority with its lower bleeding rates.
OSHN and ALONE randomized studies in low-risk AF ablation patients show safe discontinuation of anticoagulation one year post-ablation, with no discernible impact on Watchman adoption.
The Champion trial (first-line LAAC vs. medical therapy) is expected in H1 2026, targeting AF Symposium, ACC or HRS; label update (~7–8 months post-data) and Medicare NCD revision (up to 12 months) would follow a positive readout.
Concomitant Watchman implants in the U.S. have accelerated to 25% of all procedures exiting 2025, supported by 60–65% of implants performed by EPs who also do ablations.
The FARAPulse PFA system has achieved ~50% global penetration (≈ 60% in the U.S.), with de novo ablation redo rates in the single digits at one year and growing adoption of the Opal mapping platform for streamlined workflows.

Nov 18, 2025, 1:00 PM

Transcript

Boston Scientific discusses growth drivers at Wolf Research Healthcare Conference 2025

BSX

Watchman LAAC trial context: The CLOSURE trial failed to meet non-inferiority vs best medical therapy largely due to high procedural complications with legacy devices and dual antiplatelet therapy, but showed equivalent ischemic stroke rates supporting Watchman Flex efficacy.
EP ablation impact on Watchman demand: Low-risk OSHN and ALONE trials confirmed no long-term anticoagulation needed post-successful ablation, have not reduced Watchman growth, and may increase AF ablation referrals.
CHAMPION first-line trial timeline: CHAMPION data expected in H1 2026, with a label update ~7–8 months later and potential Medicare coverage changes over ~12 months, which could enable Watchman as first-line therapy.
Watchman US momentum: US LAAC growth is accelerating, with 25% of Watchman implants performed concomitantly with AF ablation procedures by end-2025.
PFA adoption and mapping: FARAPulse pulsed-field ablation has ~50% global penetration (~60% in US), delivers single-digit one-year redo rates in de novo AF cases, and integrates with Opal mapping for efficient procedures.

Nov 18, 2025, 1:00 PM

Transcript

Boston Scientific: Cardiovascular Repair & Reconstruction Devices Market Forecast 2025-2032 Released

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.

Oct 27, 2025, 12:30 PM

Press Release

Boston Scientific reports Q3 2025 results

BSX

Earnings

Guidance Update

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.

Oct 22, 2025, 12:00 PM

Transcript

Boston Scientific reports Q3 2025 results

BSX

Earnings

Guidance Update

M&A

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.

Oct 22, 2025, 12:00 PM

Transcript

Boston Scientific reports Q3 2025 results

BSX

Earnings

Guidance Update

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.

Oct 22, 2025, 12:00 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for BOSTON SCIENTIFIC.

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