Revenue ($USD) : $12,682,000,000
R&D spend : $1,323,000,000.00
Employees : 45,000
Fiscal year end : 12/31/22
CEO : Michael Mahoney

Amid unpredictable economic times, Boston Scientific has stood out as one of the positive stories in the medical device industry.

Its sales grew 6.7% to $12.7 billion in 2022, and CEO Mike Mahoney and other top company officials expect it to grow another 10.5–11.5% this year. He said at our DeviceTaks Boston event in May that he sees the company continuing to expand into more interventional procedures where patients receive same-day treatments and go home.

“What we try to do is disrupt general surgery,” he said.

To get there, Boston Scientific is hiring, and it plans a $170 million expansion in Minnesota. It also continues to make acquisitions to pick up innovative technologies. One of the latest was its $615 million purchase of Apollo Endosurgery and its devices, used during endoluminal surgery (ELS) procedures to close gastrointestinal defects, manage gastrointestinal complications and aid in weight loss.

Boston Scientific also continues to benefit from its nearly $300 million acquisition in 2021 of Farapulse and its pulsed-field ablation technology for treating atrial fibrillation (AFib). The system is already available in Europe, where demand is strong, and positive data continues to roll in as Boston Scientific plans to seek FDA approval. –CN