Boston Scientific Corp.

Medical Devices • Healthcare • Marlborough, MA, United States • BSX (NYQ)

508 683 4000 300 Boston Scientific Way, Marlborough, MA 01752-1234, United States

Quarter: Q1 2026 Reported: January 15, 2026 Sentiment: Positive

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates in two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat a range of gastrointestinal conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes, as well as endoluminal surgery and infection prevention portfolios; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, urinary and bowel dysfunction, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, penile implants, artificial urinary sphincter, laser system, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator systems, proprietary programming software, radiofrequency ablation, indirect decompression systems, and intraosseous nerve ablation and deep brain stimulation systems. It also provides technologies for diagnosing and treating coronary artery disease and aortic valve conditions; WATCHMAN FLX, a left atrial appendage closure (LAAC) device; and implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities, such as cardioverter and cardiac resynchronization therapy defibrillators, MRI S-ICD systems, cardiac resynchronization therapy pacemakers, quadripolar LV leads, ICD leads, pacing leads, remote patient management systems, insertable cardiac monitor systems, and remote cardiac monitoring systems. In addition, the company offers diagnosis and treatment of rate and rhythm disorders of the heart; peripheral arterial and venous diseases; and products to diagnose, treat, and ease forms of cancer. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.

Analysis Summary

On January 15, 2026, Boston Scientific Corporation (BSX) filed a Form 8-K to announce a definitive agreement to acquire Penumbra, Inc. The transaction involves Pinehurst Merger Sub, Inc., a wholly owned subsidiary of BSX, acquiring Penumbra. This announcement was accompanied by a joint press release and an investor presentation, with a conference call held the same day to discuss the strategic rationale and details of the acquisition.

**Strategic Initiatives and Business Segment Analysis:** The acquisition of Penumbra is a significant strategic initiative aimed at expanding Boston Scientific's market presence and product offerings. While the specific segments Penumbra operates in are not detailed in this filing, such acquisitions typically target complementary or adjacent markets to drive growth and synergy. The company's decision to hold a conference call and provide an investor presentation underscores the importance of this transaction to its future strategy.

**Management Commentary and Forward Guidance:** The filing itself is a legal disclosure of the acquisition agreement, and as such, does not contain direct management commentary or forward financial guidance for Q1 2026 performance. However, the act of acquisition implies a positive long-term outlook and a commitment to growth. The document highlights that forward-looking statements regarding the financial and business impact, anticipated benefits, and timing of closing are based on current beliefs and assumptions.

**Competitive Positioning and Market Trends:** This acquisition suggests Boston Scientific is actively pursuing inorganic growth to strengthen its competitive positioning in the medical device industry. Such moves are common in a dynamic market where companies seek to consolidate, innovate, and expand their therapeutic areas or geographical reach.

**Risk Factors and Concerns Raised:** The filing explicitly outlines numerous risk factors associated with the transaction. These include economic conditions (e.g., foreign currency fluctuations), geopolitical events, manufacturing and supply chain disruptions, cybersecurity events, public health emergencies, labor shortages, variations in clinical trial outcomes, and the ability to successfully integrate Penumbra's operations. Crucially, the completion of the proposed transaction is contingent on receiving required regulatory approvals and clearances, which may not be satisfied or could be delayed. There are also risks of business disruptions (e.g., employee, customer, or supplier relationships) following the announcement and/or closing. The company disclaims any obligation to publicly update or revise forward-looking statements.

Key Highlights

• Boston Scientific Corporation (BSX) announced a definitive agreement to acquire Penumbra, Inc.
• A joint press release and investor presentation were issued on January 15, 2026.
• A conference call was scheduled to discuss the details of the transaction.
• The acquisition is subject to customary closing conditions, including required regulatory approvals and clearances.
• The transaction is a strategic move, indicating Boston Scientific's commitment to growth and market expansion.
• The filing includes extensive cautionary statements regarding forward-looking information and associated risks.

Financial Metrics

eps

YoY: Not provided in this M&A announcement

revenue

N/A

YoY: Not provided in this M&A announcement

guidance

net income

N/A

YoY: Not provided in this M&A announcement

Stock Performance (90 Days)

Data through Jan 16, 2026

Layoff Events

Earnings Calls

Positive Signals

• Strategic acquisition signals commitment to growth and market leadership.
• Proactive expansion of product portfolio through M&A.
• Transparent communication with investors via press release, investor presentation, and conference call.
• Execution of a definitive agreement indicates a firm commitment to the transaction.

Risks & Concerns

— Inability to achieve anticipated benefits or successfully integrate Penumbra's operations.
— Failure to satisfy required regulatory approvals and clearances, or delays in obtaining them.
— Economic conditions, including foreign currency fluctuations, impacting financial results.
— Manufacturing, distribution, and supply chain disruptions and cost increases.
— Business disruptions (e.g., relationships with employees, customers, or suppliers) following the transaction.