No. 14: Boston Scientific
Marlborough, Mass.
2018 revenues: $9,823,000,000
R&D spend: $1,113,000,000
Employees: 32,000
Revenues/employee: $306,969
Fiscal year ending: Dec. 31, 2018
Last year’s rank: 13
Key Personnel:
Michael Mahoney, chairman & CEO; Kevin Ballinger, EVP & president, interventional cardiology; Daniel Brennan, EVP & CFO; Art Butcher, SVP & president, endoscopy; Wendy Carruthers, SVP, HR; Jodi Eddy, SVP & CIO; Joseph Fitzgerald, EVP & president, rhythm management; Edward Mackey, EVP, global operations; Dr. Ian Meredith, EVP & global chief medical officer; Jeff Mirviss, SVP & president, peripheral interventions; Maulik Nanavaty, SVP & president, neuromodulation; David Pierce, EVP & president, MedSurg; Desiree Ralls-Morrison, SVP, GC & corporate secretary; Brad Sorenson, SVP, manufacturing & supply chain; Eric Thépaut, SVP & president, EMEA, Warren Wang, SVP & president, Asia Pacific
Description:
Boston Scientific (NYSE:BSX) closed out 2018 with plans for a three-year restructuring program that’s slated to slash annual pre-tax operating expenses by $100 million, to $150 million, by the end of 2022. Boston said it expects to maintain roughly the same number of workers, although there will be some churn as new jobs are created. Between the August 2018 buyout of Claret Medical ($270 million) and the August 2019 pickup of BTG ($4 billion), the company also added Vertiflex ($465 million), Millipede ($450 million), Augmenix ($600 million) and Veniti ($160 million). Full-year profits were $1.7 billion, up a whopping 1,506%, on sales growth of 8.6% to $9.8 billion. – BP