Boston Scientific

Boston Scientific Corporation
Company type	Public
Industry	Biotechnology, biomedical engineering, medical devices
Founded	June 29, 1979; 47 years ago in Watertown, Massachusetts, United States
Founder	Itzhak Bentov, John Abele, Pete Nicholas
Headquarters	Marlborough, Massachusetts, United States
Area served	Worldwide (over 100 countries)
Products	Medical devices for cardiology, radiology, neuromodulation, electrophysiology, oncology, urology, gynecology; notable product: Taxus drug-eluting stent; EMBLEM subcutaneous implantable defibrillator (S-ICD)
Number of employees	24,000+ (2016)
Website	www.bostonscientific.com

Boston Scientific Corporation (BSC), based in Marlborough, Massachusetts and incorporated in Delaware, operates as a leading American biotechnology and biomedical engineering enterprise. It focuses on producing medical devices tailored for interventional fields including cardiology, radiology, neuromodulation, electrophysiology, oncology, urology, and gynecology. The firm is notably recognized for creating the Taxus drug-eluting stent designed to clear blocked arteries. After fully acquiring Cameron Health in 2012, Boston Scientific broadened its product range to feature the EMBLEM subcutaneous implantable defibrillator (S-ICD), a minimally invasive implantable cardioverter-defibrillator.

Throughout more than twenty years, Boston Scientific has been involved in numerous patent infringement lawsuits, culminating in major settlements such as $1.725 billion paid to Johnson & Johnson, $85 million to Nevro, and $42 million to TissueGen.

History

Founded on June 29, 1979, in Watertown, Massachusetts, Boston Scientific began as a holding company for Medi-Tech, Inc., with the aim of fostering growth within interventional medicine. Medi-Tech had been established by Itzhak Bentov, a Czech-born innovator who developed a steerable angiography catheter in 1969 after collaborating with radiologists at Boston Beth Israel Hospital. That same year, John Abele joined the enterprise, acquiring ownership alongside Cooper Labs and moving operations to Watertown. Abele later teamed up with Pete Nicholas, merging Nicholas’ business expertise with Abele’s vision for noninvasive surgical tools. They secured financial support from Boston investors to purchase Cooper Labs and establish Boston Scientific.

Within the following year, Boston Scientific expanded its offerings by acquiring Kimray Medical Associates (later Mansfield Scientific), adding vena cava filters and cardiac output computers to its product line. By 1982, the company had transformed a mill in Watertown into a manufacturing facility. Its acquisition strategy continued with Endo-Tech (Microvasive, Inc.: gastrointestinal and pulmonary devices) in 1981 and Van-Tec (urology) in 1988, thereby extending its global presence. On December 31, 1988, Mansfield Scientific, Microvasive, and Medi-Tech were merged under the Boston Scientific name, consolidating the company’s market position and product portfolio.

Initial public offering (1992)

On May 19, 1992, Boston Scientific offered an initial public offering of 23.5 million shares—18.8 million within the U.S. and 4.7 million internationally—representing 23% of its total outstanding stock. The shares opened at $17 each and were underwritten by Goldman Sachs & Co. and PaineWebber Inc., with Abbott Laboratories holding a 20% ownership stake. The company’s market capitalization was approximately $1.6 billion at that time. The U.S.-listed shares were traded on the New York Stock Exchange.

Post–IPO

Between 1995 and 1997, Boston Scientific enhanced its research and development capabilities as well as its product lineup through strategic acquisitions including Cardiovascular Imaging Systems, SCIMED, Vesica Medical, Meadox, EP Technologies, MinTec, Symbiosis Corporation, and Target Therapeutics. The deal with Target Therapeutics was notable for being a $1.1 billion tax-free stock exchange that surpassed standard valuation multiples.

In November 1998, the company restated financial results for fiscal year 1997 and early 1998 due to discrepancies discovered within its Japanese subsidiary.

The Taxus Stent secured European regulatory approval in 2003 followed by FDA clearance in March 2004 as the second drug-eluting stent authorized for use in the United States.

In April 2004, Boston Scientific exercised an exclusive option to acquire Precision Vascular Systems. Subsequently in June of that year, it purchased Advanced Bionics Corporation for $740 million in cash plus contingent payments. By December 2004, it completed the acquisition of Advanced Stent Technologies through a $120 million stock transaction combined with future performance-based payments; AST specialized in stents targeting bifurcated coronary artery disease.

April 2005 marked further expansion through acquisitions of TriVascular—later renamed Boston Scientific Santa Rosa Corporation (BSSR)—which concentrated on minimally invasive devices for abdominal aortic aneurysms; however, BSC discontinued its EVAR program by 2006. Additionally acquired was CryoVascular Systems along with its proprietary angioplasty technology for peripheral arterial disease treatment. In June of that year, Rubicon Medical Corporation was also acquired as a wholly owned subsidiary.

In March 2008, Boston Scientific divested BSSR by selling it to TV2 Holding Company for $30 million cash plus a warrant granting rights to purchase a minority interest in TV2.

Guidant acquisition

In January 2006, Boston Scientific proposed a $25 billion bid for rival Guidant at $72 per share, which was initially declined. By April 21, 2006, Boston Scientific completed the purchase of Guidant for $27.2 billion, resulting in the division of the company between Boston Scientific and Abbott Laboratories. During 2010, Boston Scientific reduced its workforce by 1,300 employees as part of the integration process for Guidant's heart-rhythm division.

Developments following the merger

In December 2007, Boston Scientific divested its Fluid Management and Venous Access segments to Avista Capital Partners for $425 million. The following year, it acquired CryoCor, Inc. for $17.6 million and established Navilyst Medical from the divested units.

January 2009 saw Boston Scientific acquiring Labcoat Limited, a company specializing in drug-eluting stent technology. In October 2010, the firm paid a $600,000 penalty connected to promotional activities involving US Army devices and acquired Asthmatx, Inc. for $193.5 million, with additional payments contingent on revenue milestones.

In January 2011, Boston Scientific completed the acquisition of Atritech, Inc. for $100 million plus up to $275 million in earn-outs; Atritech was known for developing the Watchman® device aimed at patients at risk of stroke. That same month, it also acquired Intelect Medical, Inc. for $78 million. Additionally, Boston Scientific purchased the remaining shares of Sadra Medical, Inc., and sold its neurovascular division to Stryker Corporation for $1.5 billion.

By June 2012, Boston Scientific had acquired Cameron Health with a deal valued up to $1.3 billion based on revenue targets. Later that year, it expanded its portfolio by purchasing BridgePoint Medical, Rhythmia Medical, and Vessix Vascular to enhance offerings in cardiac and renal therapies.

In November 2013, the company added Bard EP's electrophysiology unit through a $275 million acquisition. The following year included expansion into gynecologic surgery via IoGyn, Inc., as well as the purchase of Bayer's Interventional business for $415 million.

March 2015 marked the acquisition of Endo International Plc’s American Medical Systems urology division for a minimum of $1.6 billion, bolstering its presence in prostate health solutions. Other acquisitions around this period included Xlumena, Inc., and an investment in MValve Technologies focused on mitral valve replacement.

By 2016, Boston Scientific operated across more than 100 countries with over 24,000 employees and approximately 13,000 products. That year’s acquisitions included Cosman Medical ($62.5 million), EndoChoice Holdings ($210 million), Distal Access’s gynecology and urology portfolio, and a 15% equity stake in Neovasc valued at $75 million.

In May 2017, Boston Scientific acquired Symetis SA—specializing in transcatheter aortic valve devices—and Apama Medical Inc., with a deal potentially reaching $300 million.

Throughout 2018, Boston Scientific completed multiple acquisitions: nVision Medical Corporation; NxThera; Securus Medical Group (with combined payments up to $50 million); Cryterion Medical; Veniti; Augmenix (up to $600 million); Claret Medical; and UK-based BTG plc for $4.2 billion—BTG was formerly listed on the FTSE 250 index. Additionally, it finalized full ownership of Millipede, Inc. for $325 million after previous investments.

In May 2019, the acquisition of Vertiflex, Inc. enhanced Boston Scientific’s interventional pain management portfolio focused on lumbar spinal stenosis therapies.

January 2021 featured the purchase of Preventice Solutions for up to $1.2 billion to broaden mobile cardiac health capabilities. Two months later in March 2021, it acquired Lumenis Ltd., an Israeli laser technology provider, from Baring Private Equity Asia for $1 billion.

June 2021 included acquiring Farapulse Inc., a University of Iowa spin-off specializing in electrophysiology devices, for $295 million. Later that year Boston Scientific also purchased Devoro Medical’s blood clot capture technology and Baylis Medical Company Inc. for $1.75 billion to reinforce its electrophysiology product lineup.

In June 2022, plans were announced for a new manufacturing and supply chain facility in Johns Creek, Georgia valued at $62.5 million; however, a planned acquisition of South Korea’s M.I.Tech Co., Ltd. was canceled in May 2023 due to regulatory challenges. Subsequently, the company disclosed acquiring Obsidio, Inc.

September 2023 saw Boston Scientific acquire Relievant Medsystems with an upfront payment of $850 million plus additional contingent amounts tied to sales performance.

In January 2024, Boston Scientific revealed a significant acquisition of Axonics, Inc., valued at $3.7 billion.

Boston Scientific
- Precision Vascular Systems, Inc. (Acquired 2004)
- Advanced Bionics Corporation (Acquired 2004)
- Advanced Stent Technologies, Inc. (Acquired 2004)
- TriVascular, Inc. (Acquired 2005)
- CryoVascular Systems, Inc. (Acquired 2005)
- Nemo I Acquisition, Inc.
 - Rubicon Medical Corporation (Acquired 2005)
- Guidant (Acquired 2006; divided with Abbott Laboratories)
- CryoCor, Inc. (Acquired 2008)
- Labcoat Limited (Acquired 2009)
- Asthmatx, Inc. (Acquired 2010)
- Atritech, Inc. (Acquired 2011)
- Intelect Medical, Inc. (Acquired 2011)
- Sadra Medical, Inc. (Acquired 2011)
- Cameron Health (Acquired 2012)
- BridgePoint Medical, Inc. (Acquired 2012)
- Rhythmia Medical, Inc. (Acquired 2012)
- Vessix Vascular, Inc. (Acquired 2012)
- Bard EP (Acquired 2013)
- IoGyn, Inc. (Acquired 2014)
- Bayer (Interventional business) (Acquired 2014)
- Endo International (Urology business) (Acquired 2015)
- Xlumena, Inc. (Acquired 2015)
- Cosman Medical, Inc. (Acquired 2016)
- EndoChoice Holdings, Inc. (Acquired 2016)
- Distal Access LLC (Gynecology & Urology) (Acquired 2016)
- Symetis SA (Acquired 2017)
- Apama Medical Inc.(Acquired 2017)
- nVision Medical Corporation (Acquired 2018)
- NxThera (Acquired 2018)
- Securus Medical Group (Acquired 2018)
- Cryterion Medical(Acquired 2018)
- Veniti(Acquired 2018)
- Augmenix(Acquired 2018)
- Claret Medical(Acquired 2018)
- BTG plc (Acquired 2018)
 - British Technology Group (Merged in1981)
 - National Research Development Corporation (NRDC)
 - National Enterprise Board (NEB)
 - Protherics Plc (Purchased in2008)
 - Biocompatibles (Purchased in2011)
 - Galil Medical (Purchased in2016)
 - Novate Medical (Purchased in2018)
- Millipede(Acquired 2018)
- Vertiflex (Purchased 2019)

**Preventice Solutions< small> ( Purchased 2021) </ small> 
**Lumenis Ltd< small> ( Purchased 2021) </ small> 
**Farapulse< small> ( Purchased 2021) </ small> 
**Devoro Medical< small> ( Purchased 2021) </ small> 
**Baylis Medical Company< small> ( Purchased 2021) </ small> 
**Obsidio< small> ( Purchased 2022) </ small> 
**Relievant Medsystems< small> ( Purchased 2023) </ small> 
**Apollo Endosurgery< small> ( Purchased 2023) </ small> 
**Axonics< small> ( Purchased 2024) </ small> 
**SoniVie Ltd< small> ( Purchased 2025) </ small>

Organizational culture

Boston Scientific Corporation (BSC) has earned positive feedback from its workforce, featuring in the annual Glassdoor Best Places to Work – Employee's Choice Survey with the following rankings and ratings:

2018: Ranked 35th out of 100, with a 4.4-star rating
2019: Ranked 56th out of 100, with a 4.3-star rating
2022: Ranked 52nd out of 100, maintaining a 4.3-star rating

In 2018, women accounted for 43% of BSC’s employees in the United States, held 38% of management roles, and made up 23% of senior corporate leadership.

Social commitment

Boston Scientific prioritizes an inclusive corporate culture that values diversity across all levels, including employees, supervisors, executives, and board members. The company’s diversity objectives for 2018 aimed to:

Achieve a position among the top ten companies excelling in the inclusion of women, ethnic minorities, individuals with disabilities, and LGBTQ staff.
Increase representation of people of color in supervisory positions within the US (including Puerto Rico) to 20%, up from 19.6% in 2018.
Boost the global percentage of women in supervisory or managerial roles to 40%, rising from 38.4% in 2018.

These initiatives have garnered accolades from prominent organizations and media outlets:

Forbes recognized BSC as one of the "Best Employers For Diversity," placing it at #85 out of 500 in 2019, climbing to #6 in 2021, and ranking #171 in 2022.
Bloomberg included Boston Scientific in its 2019 Gender-Equality Index, underscoring its dedication to workplace gender parity.
Working Mother honored BSC as one of the "100 Best Companies for Working Mothers" consecutively from 2017 through 2020.
The Human Rights Campaign awarded BSC a perfect score on its Corporate Equality Index each year from 2015 to 2022, designating it as a "Best Place to Work for LGBTQ Equality."
In 2021, US Black Engineer & Information Technology ranked Boston Scientific sixth among "Top Industry Supporters" for historically Black colleges and universities (HBCU) engineering programs.

Johnson & Johnson patent litigation

Beginning in 2003, Boston Scientific and Johnson & Johnson became embroiled in patent disputes concerning cardiac stent technology. Both parties accused one another of patent infringement. The conflict was ultimately resolved through settlements in which Boston Scientific paid $716 million in 2009 and an additional $1.73 billion in 2010 to Johnson & Johnson.

In November 2014, a federal judge in New York set a trial date to assess Boston Scientific's alleged breach of contract, with Johnson & Johnson pursuing damages exceeding $5 billion.

Transvaginal mesh

Boston Scientific faced numerous lawsuits related to its manufacture of transvaginal mesh devices intended for pelvic organ prolapse treatment. Plaintiffs alleged the use of harmful and counterfeit resin materials; however, the company contested these claims following a 2017 FDA report that found no new safety issues despite resin inconsistencies.

One plaintiff initially awarded $100 million had her compensation reduced to $10 million on appeal. In a separate settlement reached in 2015, Boston Scientific agreed to pay $119 million to nearly 3,000 individuals who suffered injuries linked to the mesh products. By January 2021, approximately 54,000 lawsuits had been filed against the company.

In March 2021, Boston Scientific resolved claims by agreeing to a $189 million settlement related to accusations of underreporting risks associated with its mesh devices. After an FDA directive issued in April 2019, both Boston Scientific and Coloplast withdrew their vaginal mesh products from the U.S. marketplace. In similar legal matters, Johnson & Johnson paid $344 million in 2020 due to failure to disclose significant product hazards.

NIR stent

In 2005, Boston Scientific agreed to a $74 million settlement following accusations that it continued marketing defective NIR stents despite being aware of their hazards. These faulty stents were associated with 26 injuries and one fatality.

Defective defibrillators

Guidant, a subsidiary of Boston Scientific, was found criminally liable in 2011 for not reporting safety concerns regarding its defibrillators to the FDA. This led to penalties exceeding $296 million and a three-year period of federal oversight. Although the company was conscious of the defects, it persisted in selling the devices and provided misleading information to both medical professionals and regulatory authorities about the seriousness of the problems. The defects were only revealed after three deaths had occurred and following a delay of ten months. These violations took place prior to Boston Scientific’s acquisition of Guidant in 2006.

In 2013, Boston Scientific along with its subsidiaries—Guidant LLC, Guidant Sales LLC, and Cardiac Pacemakers, Inc.—resolved claims by paying $30 million. The allegations stated that Guidant sold defective cardiac devices implanted in Medicare patients from 2002 to 2005 knowingly.

Bribery allegations

Boston Scientific settled for $22 million in 2009 due to claims that its subsidiary Guidant LLC engaged in kickback schemes to increase sales of pacemakers and defibrillators. It was reported that Guidant compensated physicians between $1,000 and $1,500 each for participating in post-market clinical trials named RaCE, RaCE II, RaCE III, and MERITS.

Obsidio Embolic Recall

In April 2024, the FDA issued a recall for Boston Scientific’s Obsidio Embolic device, which is designed to manage bleeding. When used alongside the aliquot technique, the device posed a risk of inducing bowel ischemia, potentially resulting in prolonged hospitalization or death.

Notable people

Headquarters and regional offices

Global headquarters: Marlborough, Massachusetts
European headquarters: Voisins-le-Bretonneux, France
Asia Pacific headquarters: Boston Scientific Asia Pacific Pte Ltd., Singapore
U.S. Government Affairs office: Washington, D.C.
Latin America headquarters: Weston, Florida

Manufacturing facilities

Customer fulfillment centers

Quincy, Massachusetts
Kerkrade, Netherlands
Tokyo, Japan

Institutes for Advancing Science

Warsaw, Poland
Minneapolis–Saint Paul metro area:
- Arden Hills
- Maple Grove
Huangpu District, Shanghai
Japan:
- Miyazaki
- Tokyo
Paris, France
Gurgaon, India
Istanbul, Turkey
Bryanston area:
- Bryanston, Johannesburg, South Africa

In June 2022, Boston Scientific revealed plans to invest $62.5 million into a new manufacturing and supply chain facility located in Johns Creek, Georgia near Atlanta. Earlier in 2016, the company had acquired EndoChoice based in Alpharetta, Georgia near this upcoming site.

Subsidiaries

As of December 31, 2019, Boston Scientific fully owns or holds controlling stakes in a wide array of subsidiaries around the globe:

Acurate Industria e Comercio Ltda. (Brazil)
American Medical Systems Europe B.V. (Netherlands)
Apama Medical, Inc. (Delaware)
Apollo Endosurgery
Augmenix K.K. (Japan)
Augmenix, Inc. (Delaware)
Biocompatibles International Limited (England)
Biocompatibles UK Limited (England)
Biocompatibles, Inc. (Delaware)
Boston Scientific (Malaysia) Sdn. Bhd. (Malaysia)
Boston Scientific (South Africa) Proprietary Limited (South Africa)
Boston Scientific (Thailand) Ltd. (Thailand)
Boston Scientific (UK) Limited (England)
Boston Scientific AG (Switzerland)
Boston Scientific Argentina S.A. (Argentina)
Boston Scientific Asia Pacific Pte. Ltd. (Singapore)
Boston Scientific Benelux NV (Belgium)
Boston Scientific Canada Limited (Canada)
Boston Scientific Ceska republika s.r.o. (Czech Republic)
Boston Scientific Chile SpA (Chile)
Boston Scientific Clonmel Limited, currently in liquidation (Ireland)
Boston Scientific Colombia Limitada (Colombia)
Boston Scientific Comercial de Costa Rica BSCR, S.R.L. (Costa Rica)
Boston Scientific Cork Limited, currently in liquidation (Ireland)
Boston Scientific de Costa Rica S.R.L. (Costa Rica)
Boston Scientific de Mexico, S.A. de C.V. (Mexico)
Boston Scientific del Caribe, Inc. (Puerto Rico)
Boston Scientific do Brasil Ltda. (Brazil)
Boston Scientific Far East B.V. (Netherlands)
Boston Scientific Gesellschaft m.b.H. (Austria)
Boston Scientific Group plc (Ireland)
Boston Scientific Hellas S.A. (Greece)
Boston Scientific Hong Kong Limited (Hong Kong)
Boston Scientific Iberica, S.A. (Spain)
Boston Scientific India Private Limited (India)
Boston Scientific International B.V. (Netherlands)
Boston Scientific International Finance Limited (Ireland)
Boston Scientific International S.A. (France)
Boston Scientific Ireland Limited, currently in liquidation (Ireland)
Boston Scientific Israel Ltd. (Israel)
Boston Scientific Japan K.K., Tokyo, a wholly owned subsidiary
Boston Scientific Korea Co., Ltd. (Korea)
Boston Scientific Lebanon SAL (Lebanon)
Boston Scientific Limited (England and Ireland)
Boston Scientific Ltd./Boston Scientifique Ltee. (Canada)
Various medical device entities of Boston Scientific located in Malaysia and Ireland
Boston Scientific Medizintechnik GmbH (Germany)
Boston Scientific Middle East FZ-LLC (UAE) and SAL Offshore Lebanon
Boston Scientific Nederland B.V. (Netherlands)
Boston Scientific Neuromodulation Corporation based in Valencia, California
Boston Scientific New Zealand Limited
Boston Scientific Nordic AB (Sweden)
Boston Scientific Peru S.A.C.
Boston Scientific Philippines, Inc.
Boston Scientific Polska Sp. z o.o.
Boston Scientific Portugal - Dispositivos Medicos Lda
Boston Scientific Pty Ltd (Australia)
Boston Scientific Romania S.R.L.
Subsidiaries including both S.A.S.(France) and S.p.A.(Italy) under the brand name of Boston Scientific
Boston Scientific Scimed, Inc., headquartered in Maple Grove, Minnesota
Multiple Indian subsidiaries such as Technology & Engineering Services Private Limited
Boston Scientific TIP Gerecleri Limited Sirketi (Turkey)

Additional subsidiaries encompass BTG group companies across various nations; Cardiac Pacemakers Inc.; Claret Medical; Cosman Medical; Cryterion Medical; EKOS LLC; EndoChoice group; EP Technologies; Galil Medical; Guidant group; Millipede Inc.; Novate Medical; nVision Medical; NxThera; PneumRx; Protherics Medicines Development; RMI Acquisition Corp.; Robert S. Smith M.D., Inc.; Roxwood Medical; Sadra Medical; Securus Medical Group; StarMedTec GmbH; Stream Enterprises LLC; Symetis SA; Target Therapeutics Inc.; Veniti Inc.; Vertiflex Inc.; Zuma Investment Pty Ltd; among others.

External links