2016 RANK: 16
Fiscal year ending: Dec. 31, 2016
R&D Spend: $920,000,000
Michael Mahoney, chairman & CEO; Kevin Ballinger, EVP & president, interventional cardiology; Supratim Bose, EVP & president, Asia-Pacific, Middle East & Africa; Daniel Brennan, EVP & CFO; Art Butcher, SVP & president, endoscopy; Wendy Carruthers, SVP, HR; Joseph Fitzgerald, EVP & president, rhythm management; Edward Mackey, EVP, global operations; Dr. Ian Meredith, EVP & global CMO; Jeff Mirviss, SVP & president, peripheral interventions; Maulik Nanavaty, SVP & president, neuromodulation; Michael Phalen, EVP & president, medsurg; David Pierce, SVP & health; Timothy Pratt, EVP, chief administrative officer, general counsel & secretary; Brad Sorenson, SVP, manufacturing & supply chain; Eric Thépaut, SVP & president, Europe
Boston Scientific put its turnaround in the rear view mirror in 2016 and set its sights on accelerating and stabilizing that growth by expanding into high-growth adjacent markets.
“Our investment strategy has focused on diversifying our portfolio and shifting the growth profile of the company toward higher-growth markets and focusing on globalization,” a company spokeswoman told us, noting that once-core products likes stents, pacemakers and defibrillators are now only 50% of the total offering.
“We expect that to be about a third as we continue to grow with our robust pipeline,” she said, adding that nearly half of Boston Scientific’s sales come from global markets.
A June 2016 restructuring meant little net change to total employment numbers, as BSC looked to pare its pre-tax expenses by $115 million to $150 million by the end of 2020.