BSX 8-K Current Reports

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Sep 23, 2026)

Boston Scientific Corporation (BSX) has announced the upcoming retirement of Arthur C. Butcher, Executive Vice President and Group President, MedSurg and Asia Pacific, effective January 1, 2027. This transition is a significant event for investors as Mr. Butcher has held a key leadership position within the company. While he will be stepping down from his operational role, he is expected to serve as a senior advisor until February 26, 2027, ensuring a smooth handover and continuity. This advisory role will provide him with a prorated base salary of $780,000.

Sep 23, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Cybersecurity Incident (Sep 8, 2026)

Boston Scientific Corporation (BSX) has filed an 8-K detailing the ongoing impact of a significant cybersecurity incident first identified on August 25, 2026. The incident led to a global disruption of IT systems, affecting manufacturing, order processing, and shipping operations. While the Company has made substantial progress in restoring its distribution network and resuming manufacturing at most facilities, full operational recovery is still uncertain. Crucially, BSX now anticipates that this incident will materially impact its third-quarter and full-year 2026 financial results, likely causing the company to miss previously issued net sales growth and adjusted EPS guidance. The company expects to provide a more detailed financial outlook update during its Q3 2026 earnings call in late October. Despite the near-term financial headwinds, BSX currently does not expect the incident to materially affect its long-term financial condition. The investigation into the incident is ongoing, and the company is working with third-party experts to assess and contain the impact. Investors should note that the full extent of revenue recovery and the ultimate financial impact are still being determined. BSX has also highlighted various risks, including potential litigation, reputational damage, and further operational disruptions, that could arise from this cybersecurity event.

Sep 8, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Aug 26, 2026)

Boston Scientific Corporation (BSX) has disclosed a significant cybersecurity incident that occurred on August 25, 2026. This incident has led to a global disruption of the Company's operations, impacting information technology systems and business applications. Notably, the disruption affects the ability to process and ship customer orders, indicating a direct impact on revenue generation and supply chain continuity. The Company has initiated its incident response protocols and is working with third-party experts to investigate, assess, and contain the threat. While efforts are underway to restore affected systems, the timeline for full recovery remains uncertain. At this time, the full scope, nature, and financial implications of the incident are unknown, and Boston Scientific has not yet determined if it will have a material impact on the company's financial condition or results of operations.

Aug 26, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Jul 29, 2026)

Boston Scientific (BSX) reported second-quarter 2026 net sales of $5.442 billion, up 7.5% on a reported basis and 7.0% on an operational and organic basis versus the prior year. Growth was driven by Cardiovascular (up 8.3% reported, 7.8% organic) and MedSurg (up 5.9% reported, 5.4% organic). Regionally, Latin America and Canada (up 22.4% reported, 16.2% operational) and Asia-Pacific (up 11.2%) led, while the U.S. grew 6.2% and EMEA 4.2% on an operational basis. Adjusted EPS of $0.86 beat the company's $0.82 to $0.84 guidance range, and GAAP diluted EPS was $0.61 versus $0.53 a year ago. GAAP results were affected by a $76 million litigation-related charge and adjustments for IEEPA tariff refunds and deferred tax items. The company lowered its full-year 2026 outlook to reported net sales growth of 5.5% to 6.5% (5% to 6% organic) and adjusted EPS of $3.28 to $3.32. Third-quarter guidance calls for 3% to 5% sales growth and adjusted EPS of $0.80 to $0.82. Management described the environment as dynamic and emphasized prioritizing investments in its highest-impact opportunities. Capital allocation included completing a $2 billion accelerated share repurchase (about 40 million shares retired) and a $1.5 billion investment in MiRus LLC for roughly a 34% equity stake and an exclusive option to acquire its TAVR business. Clinical and pipeline news was active, including FRACTURE IDE trial data for the SEISMIQ coronary lithotripsy catheter, AVANT GUARD data supporting FARAPULSE in first-line persistent AF, and enrollment start in the pivotal FARADIGM trial for the FARAFLEX mapping and PFA catheter. Several of these products remain investigational and are not yet available for sale. Investors will likely focus on whether the reduced full-year guidance reflects softness in the second half and on the durability of growth in the core electrophysiology and cardiovascular franchises.

Jul 29, 2026 8-K

Financial Events

BOSTON SCIENTIFIC CORP 8-K Report, Exit or Disposal Costs (Jul 27, 2026)

Boston Scientific Corporation (BSX) has announced a new global restructuring program, the "2026 Restructuring Plan," approved by its Board of Directors on July 21, 2026. This initiative aims to drive sustained cost efficiencies and support continued growth by optimizing the company's structure and resource allocation. Key activities include supply chain enhancements, such as relocating production lines, and organizational evolution. While these changes are expected to create new roles in growth areas, some headcount reductions are anticipated. The company estimates total pre-tax charges for this plan to be in the range of $700 million to $800 million, with approximately $600 million to $700 million expected to result in future cash outlays. The program is designed to achieve annual pre-tax expense reductions of roughly $500 million once fully realized, a significant portion of which is intended to be reinvested in strategic growth initiatives. The restructuring is slated to begin in 2026 and be substantially completed by the end of 2029.

Jul 27, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (May 18, 2026)

Boston Scientific (NYSE: BSX) disclosed in an 8-K filed May 18, 2026 that it has entered into an accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank, National Association, paying $2 billion of its common stock under its previously announced $5 billion buyback authorization. Under the ASR, the company will receive initial delivery of shares worth 80% of the $2 billion, or approximately 30.4 million shares based on the May 15, 2026 closing price of $52.68. The final number of shares repurchased will depend on the volume-weighted average price during the ASR term, less a discount and subject to contractual adjustments, with final settlement expected by June 30, 2026. For investors, the transaction signals management's confidence in the company's valuation and its capacity to return capital while maintaining flexibility for other uses. Upon completion, roughly $3 billion will remain under the repurchase authorization. Management estimates the ASR will be accretive to adjusted EPS by $0.02 in full-year 2026, relative to guidance issued April 22, 2026. The filing is largely an announcement of a capital allocation action rather than a change in operating results. Investors should note that the final share count is not yet fixed, and that the forward-looking statements flag risks including competition, regulatory and reimbursement conditions, supply chain issues, clinical trial outcomes, and litigation.

May 18, 2026 8-K

Shareholder MattersCorporate ChangesExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (May 18, 2026)

On May 18, 2026, Boston Scientific (BSX) disclosed a strategic investment in MiRus LLC, a privately held developer of cardiovascular and orthopedic technologies. On May 15, 2026, BSX paid $1.5 billion in cash (excluding a previously paid $100 million) for non-voting common equity representing 33.75% of MiRus's fully diluted equity. The investment also grants BSX an exclusive option to acquire, for an additional $3.0 billion in aggregate cash payments tied to clinical and regulatory milestones, 100% of a newly formed subsidiary (TAVR-Structural Heart NewCo) holding MiRus's TAVR assets. The underlying asset is the investigational SIEGEL balloon-expandable TAVR system, which is not approved for commercial distribution and is being evaluated in the STAR pivotal trial of up to 1,025 patients. The company states the investment is expected to be immaterial to 2026 adjusted EPS. The strategic rationale is to add a differentiated TAVR platform to BSX's structural heart portfolio as aortic stenosis diagnosis grows. Management highlights the device's nickel-free rhenium alloy frame, pre-mounted balloon delivery, and an 8 French expandable sheath that is roughly 50% smaller than current commercial TAVR delivery sheaths. For investors, the key considerations are the total potential commitment of roughly $4.6 billion (the $1.5 billion investment plus the $3.0 billion call option, before any additional net-sales-based payments to MiRus), the binary dependence on pivotal trial outcomes and FDA approval, and the downside structure: if BSX does not make required payments or exercise the call option in time, its equity stake is forfeited or reduced by about 75%, or exchanged for an interest in the NewCo entity. The filing contains extensive forward-looking statement cautions.

May 18, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Bylaw Amendment (May 5, 2026)

Boston Scientific Corporation (BSX) filed an 8-K on May 5, 2026, detailing key outcomes from its 2026 Annual Meeting of Stockholders held on April 30, 2026. The most significant development for investors is the approval and effective filing of amendments to the Company's Certificate of Incorporation. These amendments eliminate supermajority voting requirements and introduce exculpation for certain officers, as permitted by Delaware law. The elimination of supermajority provisions simplifies future corporate decision-making by requiring only a simple majority for key approvals, potentially increasing responsiveness to shareholder sentiment. The filing also confirms the election of all 10 director nominees for one-year terms and the ratification of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026. Additionally, stockholders approved an amendment to the Employee Stock Purchase Plan to increase the number of reserved shares for issuance. Notably, a proposal to allow stockholders owning 25% of common stock to call a special meeting was not approved, indicating continued board control over meeting initiation.

May 5, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Apr 22, 2026)

Boston Scientific (BSX) reported first-quarter 2026 net sales of $5.203 billion, up 11.6% on a reported basis and 9.4% on an operational and organic basis, both above the company's guidance ranges of 10.5–12.0% reported and 8.5–10.0% organic. Growth was led by Cardiovascular (up 11.2% organic, with the WATCHMAN and FARAPULSE franchises cited in clinical and regulatory updates) and Neuromodulation (up 15.4% organic within MedSurg). Results were weaker in EMEA, which grew only 1.2% operationally, while the U.S. grew 10.9% and APAC and LACA grew 12.0% each. GAAP net income attributable to common stockholders was $1.341 billion, or $0.90 per diluted share, versus $0.45 a year earlier. The GAAP figure was inflated by a large deferred tax benefit of $320 million (about $0.21 per share) and investment portfolio gains of $137 million pre-tax, so it should not be read as a clean run-rate. Adjusted EPS was $0.80, above the $0.78–$0.80 guidance range and up from $0.75 in the prior year period. Management raised full-year 2026 guidance to 7.0–8.5% reported and 6.5–8.0% organic net sales growth, with adjusted EPS of $3.34–$3.41. Second-quarter guidance calls for 5.5–7.5% reported and 5.0–7.0% organic growth, with adjusted EPS of $0.82–$0.84. The filing also disclosed completion of the Valencia Technologies acquisition, U.S. FDA 510(k) clearance of the Asurys Fluid Management System, and two new board members.

Apr 22, 2026 8-K

Material AgreementsFinancial EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Mar 30, 2026)

Boston Scientific (BSX) furnished an 8-K on March 30, 2026 disclosing two late-breaking clinical trial results presented at ACC.26 on March 28, 2026, and simultaneously published in The New England Journal of Medicine. No financial results, guidance changes, or deal terms were disclosed; the filing is purely clinical and regulatory-pipeline news furnished under Item 8.01 (Other Events). The HI-PEITHO trial evaluated the EKOS Endovascular System (ultrasound-facilitated catheter-directed thrombolysis) in 544 patients with intermediate-risk pulmonary embolism. The EKOS plus anticoagulation arm achieved a composite primary endpoint event rate of 4.0% versus 10.3% for anticoagulation alone (P=0.005), a 61% relative reduction, with no intracranial bleeding through 30 days. Management is positioning the data to support EKOS plus anticoagulation as a first-line therapy, which would challenge the current anticoagulation-only standard of care. The CHAMPION-AF trial evaluated the WATCHMAN FLX left atrial appendage closure device against NOACs in 3,000 patients with non-valvular atrial fibrillation. The device was statistically superior on non-procedural bleeding (10.9% vs. 19.0%) and non-inferior on stroke, cardiovascular death, or systemic embolism (5.7% vs. 4.8%) at 36 months. Management plans to use these data to seek an expanded indication and coverage as a first-line stroke-prevention option, a potentially significant commercial opportunity for the WATCHMAN franchise, though regulatory and reimbursement outcomes remain uncertain and the trial's efficacy was non-inferior rather than superior.

Mar 30, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Feb 26, 2026)

Boston Scientific Corporation (BSX) has executed significant financing agreements on February 26, 2026, including a $3.0 billion revolving credit facility maturing in five years (2026 Revolving Credit Agreement) and a $2.0 billion 364-day revolving credit facility. Additionally, the company entered into a $6.0 billion term loan credit agreement (Term Loan Credit Agreement), featuring a $1.0 billion delayed draw term loan and a $5.0 billion delayed draw term loan, both set to mature 364 days after the closing of the Penumbra, Inc. acquisition. These new credit facilities collectively provide substantial liquidity and are crucial for funding the pending acquisition of Penumbra, Inc. The agreements include customary covenants and events of default, with a key financial covenant being a Maximum Leverage Ratio. Notably, this ratio can temporarily increase to 4.75x following a Qualified Acquisition, providing operational flexibility during integration periods. The company also terminated its prior 2021 revolving credit agreement in conjunction with these new arrangements.

Feb 26, 2026 8-K

Leadership ChangesRegulation FDOther Events+1

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Feb 23, 2026)

Boston Scientific (BSX) filed an 8-K on February 23, 2026 reporting three developments: board expansion, a new share repurchase authorization, and the appointment of two new directors. On February 18, 2026, the Board increased its size from ten to twelve and appointed Catherine (Cathy) Smith and Christophe Weber as directors, effective that date. Smith, the CFO of Starbucks, joins the Audit and Nominating and Governance Committees. Weber, president and CEO of Takeda Pharmaceutical until his planned retirement in June 2026, joins the Executive Compensation and Human Resources Committee and the Risk, Science and Technology Committee. Both receive prorated standard non-employee director compensation through the 2026 annual meeting. The Board also approved an additional $4.0 billion increase to the company's stock repurchase program, bringing total authorized repurchases to $5.0 billion. The filing states that the full amount remains available as of the filing date. This is a substantial capacity expansion that signals management and the Board's confidence in capital deployment and provides flexibility for opportunistic buybacks. The board refresh follows the previously announced retirements of directors John Sununu and Yoshiaki Fujimori, who will not stand for re-election at the 2026 annual meeting. The additions bring finance and strategy depth (Smith) and global pharmaceutical leadership (Weber) to the Board. For investors, the changes are governance-positive and largely non-financial in direct impact, while the repurchase expansion is the most material item for shareholder returns.

Feb 23, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Feb 5, 2026)

Boston Scientific Corporation (BSX) announced that Yoshiaki Fujimori, a long-serving member of its Board of Directors, will not seek re-election at the upcoming 2026 Annual Meeting of Stockholders. Mr. Fujimori, who has been on the Board since July 2016 and currently chairs the Risk, Science and Technology Committee, will continue in his roles until the annual meeting. His decision is reportedly not due to any disagreement with the company, which is a positive signal for stability. This departure represents a change in board composition, and the company's Board and Nominating and Governance Committee will assess the need for any adjustments to the Board's size and makeup following Mr. Fujimori's exit. Investors should monitor any future announcements regarding board appointments or restructuring to understand the company's strategic direction and governance evolution.

Feb 5, 2026 8-K

Regulation FDExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Feb 4, 2026)

Boston Scientific reported a strong close to 2025. Q4 net sales were $5.286 billion, up 15.9% reported, 14.3% operational and 12.7% organic, beating the company's guidance ranges of 14.5–16.5% reported and 11–13% organic. Cardiovascular was the main engine at 16.1% organic growth, while MedSurg grew 6.5% organic. GAAP EPS was $0.45 versus $0.38 a year ago, and adjusted EPS was $0.80 versus $0.70, above the $0.77–$0.79 guidance. For full year 2025, net sales reached $20.074 billion (15.8% organic growth) and adjusted EPS was $3.06, up from $2.51. GAAP diluted EPS was $1.94, up from $1.25. Quality of earnings deserves attention. Q4 GAAP results absorbed a $194 million litigation-related charge, and 2025 included restructuring charges tied to discontinuing the ACURATE neo2 and ACURATE Prime aortic valves, which had roughly $50 million per quarter of prior-year global sales. The gap between GAAP and adjusted EPS remains wide because of amortization and recurring 'non-GAAP' adjustments, so investors should weigh both measures. Full-year 2025 also benefited from a $229 million acquisition-related other income item in the non-GAAP reconciliation, and 'Other, net' was positive for the year despite a negative Q4. Looking ahead, management guided full-year 2026 reported net sales growth of 10.5–11.5% (10.0–11.0% organic) and adjusted EPS of $3.43–$3.49. First-quarter 2026 guidance calls for 10.5–12.0% reported growth (8.5–10.0% organic) and adjusted EPS of $0.78–$0.80. The company also disclosed pending acquisitions of Penumbra and Valencia Technologies and the completed purchase of Nalu Medical. Guidance implies deceleration from 2025's 15.8% organic pace, which investors will likely probe on the earnings call.

Feb 4, 2026 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Regulation FD Disclosure (Jan 15, 2026)

On January 15, 2026, Boston Scientific (BSX) announced a definitive agreement to acquire Penumbra, Inc. (PEN), a leader in mechanical thrombectomy and neurovascular devices, at $374 per share, implying an enterprise value of approximately $14.5 billion (about $15 billion for fully diluted equity, net of roughly $470 million of Penumbra net cash). Consideration is elected by Penumbra holders as $374 cash or 3.8721 BSX shares, prorated so the total is roughly 73% cash and 27% stock. BSX expects to fund the approximately $11 billion cash portion with cash on hand and new debt, and the stock component implies roughly 41 million new BSX shares, fixed at signing. Strategically, the deal gives Boston Scientific a scaled entry into mechanical thrombectomy, embolization, and neurovascular, which management describes as large, underserved segments with a weighted-average market growth rate of about 11%. Penumbra expects fourth-quarter 2025 reported revenue growth of roughly 21.4% to 22.0% and full-year 2025 revenue of about $1.4 billion (17.3% to 17.5% growth), with preliminary gross margin near 68% and operating margin near 13.5%. Financially, BSX expects the deal to be dilutive to adjusted EPS by $0.06 to $0.08 in the first full year after closing, neutral to slightly accretive in year two, and more accretive thereafter; GAAP EPS will be dilutive for longer due to amortization and acquisition-related charges. The transaction requires Penumbra stockholder approval and customary regulatory clearances and is expected to close in 2026. Investors should monitor financing terms (the nature of the new debt is still to be finalized), leverage and credit-rating impact, integration execution, and the realization of the projected growth and margin contributions.

Jan 15, 2026 8-K

Material AgreementsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Jan 15, 2026)

Boston Scientific Corporation (BSX) announced a significant strategic move with the entry into a definitive Agreement and Plan of Merger to acquire Penumbra, Inc. This transaction, structured as a merger where Penumbra will become a wholly owned subsidiary of Boston Scientific, is expected to materially enhance Boston Scientific's product portfolio and market presence, particularly in high-growth areas of medical technology. The acquisition offers Penumbra shareholders a choice between cash and stock consideration, with a proration mechanism in place to balance the total cash and stock components. This structure provides flexibility to Penumbra's shareholders while aiming to optimize the financial and strategic integration for Boston Scientific. The deal is subject to customary closing conditions, including regulatory approvals and shareholder votes, and includes provisions for termination fees, outlining the commitment and potential implications for both parties.

Jan 15, 2026 8-K

Leadership ChangesExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Nov 19, 2025)

Boston Scientific Corporation (BSX) has filed an 8-K report detailing the approval of its 2026 Annual Bonus Plan and two new Performance Share Programs: the 2026 Relative Total Shareholder Return Performance Share Program (2026 rTSR PSP) and the 2026 Organic Net Sales Growth Performance Share Program (2026 Organic Net Sales PSP). These plans, effective for the 2026 performance year and subsequent periods, are designed to align executive compensation with company performance and shareholder interests. The annual bonus plan focuses on global sales, adjusted earnings per share, operating income, and sustainability goals, with potential payouts ranging from 0% to 225% of target bonuses based on company and individual performance. The performance share programs are designed as long-term incentives. The 2026 rTSR PSP will reward executives based on Boston Scientific's Total Shareholder Return relative to the S&P 500 Healthcare Index over a three-year period (2026-2028), with awards ranging from 0% to 200% of target. The 2026 Organic Net Sales PSP will incentivize executives based on the company's organic net sales growth over the same three-year period, also with award potential from 0% to 200% of target. Both performance share programs are subject to vesting criteria and clawback provisions, aligning with regulatory requirements.

Nov 19, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Oct 23, 2025)

Boston Scientific Corporation (BSX) has announced that John E. Sununu will not seek re-election to the Board of Directors at the 2026 Annual Meeting of Stockholders. Mr. Sununu has been a director since April 2009 and currently holds significant roles as a member of the Audit Committee and the chair of the Nominating and Governance Committee. His departure, effective after the 2026 Annual Meeting, is stated to be voluntary and not due to any disagreements with the company. This change marks the end of a long tenure for a director who has contributed to key board functions.

Oct 23, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Oct 22, 2025)

Boston Scientific (BSX) reported third-quarter 2025 results on October 22, 2025 that beat its own guidance on every headline metric. Net sales reached $5.065 billion, up 20.3% reported, 19.4% operational and 15.3% organic, versus guidance of 17–19% reported and 12–14% organic. GAAP EPS was $0.51 (versus $0.32 a year ago) and adjusted EPS was $0.75, above the $0.70–$0.72 guidance range. Growth was driven by Cardiovascular (up 22.4% reported, 19.4% organic) and especially the U.S. (up 27.0%), while EMEA was essentially flat to down on an operational basis (down 2.0%), partly reflecting the discontinuation of the ACURATE aortic valve systems, which had roughly $50 million of quarterly sales in the prior year. For the full year 2025, management guided to approximately 20% reported and 15.5% organic net sales growth, GAAP EPS of $1.97–$2.01, and adjusted EPS of $3.02–$3.04. For Q4 2025, guidance is 14.5–16.5% reported and 11–13% organic growth, with GAAP EPS of $0.48–$0.52 and adjusted EPS of $0.77–$0.79. The implied Q4 organic deceleration from the Q3 pace of 15.3% is a key point for investors to watch, alongside the continued drag from the discontinued valve business and the pending Nalu Medical acquisition. The report also covered several pipeline and corporate developments: Japanese approval of expanded FARAPULSE labeling for drug-refractory persistent atrial fibrillation, enrollment start in the AGENT DCB STANCE trial, completion of the Elutia asset acquisition, and an agreement to acquire Nalu Medical, subject to customary closing conditions. Restructuring charges were a meaningful GAAP item in 2025, though they are excluded from adjusted results.

Oct 22, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Sep 4, 2025)

Boston Scientific Corporation (BSX) has filed an 8-K report announcing the upcoming retirement of Jeffrey B. Mirviss, Executive Vice President and President of Peripheral Interventions, effective December 1, 2025. Mr. Mirviss will transition to a senior advisor role until February 27, 2026, continuing to receive his current base salary during this period. This transition is significant as it marks the departure of a key executive from a prominent division within the company. Investors should note that the retirement is not unexpected and Mr. Mirviss is providing a transition period as a senior advisor. The company anticipates entering into a Retirement Agreement that will align with existing executive retirement plans, bonus structures, and long-term incentive programs. This suggests a structured and planned handover, with compensation and benefits adhering to established company policies. While the departure of a senior leader warrants attention, the outlined transition plan aims to ensure continuity within the Peripheral Interventions division.

Sep 4, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Jul 23, 2025)

Boston Scientific (BSX) reported second-quarter 2025 net sales of $5.061 billion, up 22.8% on a reported basis, 21.6% operationally and 17.4% organically, all year over year and each above the company's own guidance ranges (17.5-19.5% reported; 13-15% organic). Growth was led by Cardiovascular, up 26.8% reported and 23.2% organic, with Cardiology up 27.9% organically and the U.S. up 30.7%. MedSurg grew 15.7% reported but only 7.0% organically, with Urology and Peripheral Interventions affected by divestiture effects. GAAP EPS was $0.53 (versus $0.22 a year ago), boosted by $213 million of 'Other, net' income, while adjusted EPS was $0.75 versus $0.62 and above the $0.71-0.73 guidance. Operating margin on a GAAP basis was roughly 16% (819/5,061), with gross margin of about 67.7%, and the quarter included a $46 million impairment charge and $83 million in restructuring charges tied to discontinuing the ACURATE aortic valve systems. Management raised its full-year 2025 outlook on a reported basis to 18-19% sales growth and 14-15% organic growth, with adjusted EPS guidance of $2.95-2.99 and GAAP EPS of $1.89-1.93. The third-quarter guide calls for 17-19% reported and 12-14% organic growth, with adjusted EPS of $0.70-0.72 and GAAP EPS of $0.44-0.46. The Q3 organic range is noticeably lower than the Q2 result, which investors may want to probe on the earnings call. Acquisitions (Intera Oncology and SoniVie) were completed during the quarter and are reflected in the reported-to-organic gap, which is about 4.2 points in Q2 and about 4.5 points in Q3 guidance. Heavy R&D spend (up roughly 37% year over year) and SG&A growth reflect the company's stated prioritization of investment for future growth.

Jul 23, 2025 8-K

Leadership ChangesOther EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (May 28, 2025)

Boston Scientific Corporation (BSX) announced on May 28, 2025, the discontinuation of worldwide sales for its ACURATE neo2™ and ACURATE Prime™ Aortic Valve Systems. This strategic decision stems from recent regulatory discussions that have imposed significantly increased clinical and regulatory requirements for maintaining existing approvals and obtaining new ones globally. The company deemed the additional investments and resources necessary to meet these escalating demands to be prohibitive. Despite the anticipated financial impact from exiting these product lines, Boston Scientific currently expects to achieve its previously issued second quarter and full year 2025 sales and adjusted earnings per share guidance. However, the company is not reaffirming its GAAP EPS guidance for the same periods and plans to provide further details during its second quarter 2025 earnings call. Investors should monitor upcoming communications for a clearer picture of the financial ramifications and the company's updated outlook.

May 28, 2025 8-K

Shareholder Matters

BOSTON SCIENTIFIC CORP 8-K Report, Shareholder Vote Results (May 6, 2025)

Boston Scientific Corporation (BSX) filed an 8-K report detailing the outcomes of its 2025 Annual Meeting of Stockholders, held on May 1, 2025. The meeting confirmed strong shareholder support for the company's leadership and governance. All ten director nominees were overwhelmingly elected for a one-year term, indicating continued confidence in the current board's direction and oversight. Furthermore, the stockholders provided advisory approval for the compensation of the Named Executive Officers and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year 2025. A stockholder proposal supporting a simple majority vote was also approved on an advisory basis, suggesting a shareholder preference for a more straightforward voting mechanism.

May 6, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Apr 23, 2025)

Boston Scientific (BSX) announced on April 23, 2025 that Chief Financial Officer Daniel J. Brennan will retire, with his CFO role ending June 29, 2025. He will then serve as a senior advisor through October 3, 2025, at his current $880,000 base salary, prorated. Jonathan (Jon) Monson, currently SVP of Investor Relations and a 25+ year company veteran who previously served as Global Controller and Chief Accounting Officer, will be promoted to Executive Vice President and CFO effective June 30, 2025. He reports to Chairman and CEO Mike Mahoney and joins the Executive Committee. For investors, this is a planned, orderly succession rather than a departure driven by disagreement or performance concerns. The company emphasized Brennan's nearly 30-year tenure and his role in shaping BSX's financial performance since he became CFO in 2014, and both executives are described as working together on a smooth handover. Monson's compensation package is a $700,000 base salary, an 80% target incentive, a $1.75 million promotional equity award vesting 25% annually, and standard executive retirement and change-in-control protections. These terms are consistent with a senior executive role and are not described as unusually large. Monson's background in controllership, accounting, and investor relations gives him deep familiarity with the company's reporting and investor communications. The filing does not disclose any change to financial guidance or strategy, so the main near-term items to monitor are continuity in investor communications and the handover during the June-to-October transition period.

Apr 23, 2025 8-K

Material AgreementsFinancial EventsOther Events+1

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Apr 23, 2025)

Boston Scientific (BSX) reported a strong first quarter 2025, with net sales of $4.663 billion, up 20.9% on a reported basis, 22.2% operationally, and 18.2% organically year over year. Growth was driven primarily by Cardiovascular, which rose 26.2% reported (25.6% organic), led by Cardiology and the FARAPULSE pulsed field ablation franchise, while MedSurg grew 11.7% reported (5.3% organic). The U.S. was the main engine at 31.1% growth, while international regions grew more modestly, with EMEA at 5.5% reported and Emerging Markets at 6.5%. GAAP net income attributable to common stockholders was $674 million, or $0.45 per diluted share, versus $0.33 a year earlier, and adjusted EPS was $0.75 versus $0.56. Both results beat the company's own guidance ranges. Management raised the bar for the rest of the year. Full-year 2025 reported net sales growth is now guided to 15-17% and organic growth to 12-14%, with GAAP EPS of $1.86-$1.93 and adjusted EPS of $2.87-$2.94. For the second quarter, the company expects reported growth of 17.5-19.5%, organic growth of 13-15%, and adjusted EPS of $0.71-$0.73. Portfolio activity included completing the Bolt Medical acquisition, a pending agreement to acquire SoniVie (a renal denervation technology for hypertension), and several clinical milestones, including the SINGLE SHOT CHAMPION trial published in NEJM. Investors should note that reported growth is materially boosted by acquisitions, and that GAAP earnings still carry meaningful amortization and restructuring charges. Overall, the quarter shows strong top-line momentum and margin expansion, with gross profit rising to 68.8% of sales and operating income up roughly 36% year over year. The key debate going forward is whether Cardiovascular growth can be sustained against tougher comparisons and competitive pressure, and whether MedSurg can accelerate from its mid-single-digit organic pace.

Apr 23, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Feb 26, 2025)

Boston Scientific (BSX) disclosed that its wholly owned finance subsidiary, American Medical Systems Europe B.V. (AMS Europe), completed a €1.5 billion senior notes offering on February 26, 2025, following pricing on February 21, 2025. The offering comprised €850 million of 3.000% notes due 2031 and €650 million of 3.250% notes due 2034, fully and unconditionally guaranteed by the parent company. Net proceeds were approximately €1.487 billion after underwriting discounts and estimated offering expenses. The primary purpose of the issuance is refinancing. Proceeds, together with cash on hand, will repay AMS Europe's €-denominated 0.750% senior notes maturing March 8, 2025, plus accrued interest, with the remainder earmarked for general corporate purposes such as short-term investments, reduction of short-term debt, working capital, and potential acquisitions. For investors, this is a routine liability-management transaction that extends the maturity profile without adding meaningful net leverage, since the new debt replaces maturing debt of similar size. The filing also discloses the indenture's covenants, which restrict mergers or asset transfers and limit liens, subject to customary exceptions. The filing does not report updated financial results, guidance, or any change in business operations. The coupon levels (3.000% and 3.250%) are the key pricing datapoints for assessing the company's euro borrowing costs relative to the notes being retired.

Feb 26, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Feb 12, 2025)

Boston Scientific Corporation (BSX) has announced that Charles J. Dockendorff will not seek re-election to the Board of Directors at the upcoming 2025 Annual Meeting of Stockholders. Mr. Dockendorff has been a director since April 2015 and currently serves on the Audit Committee and the Risk Committee. His departure is not related to any disagreements with the company, which is a positive signal for ongoing board stability and alignment. The Board will assess the optimal size and composition of the Board following his departure. While this filing primarily concerns a board member's decision not to stand for re-election, investors should note that Mr. Dockendorff's continued service until the annual meeting ensures continuity in committee functions. The company's statement that this decision is not due to any disagreement suggests a smooth transition and no underlying issues with corporate governance or management. Investors will likely monitor any future announcements regarding board composition changes.

Feb 12, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Feb 5, 2025)

Boston Scientific (BSX) reported a strong close to 2024 in its Q4 and full-year results released February 5, 2025. Q4 net sales reached $4.561 billion, up 22.4% reported and 19.5% organic, well above the company's 16.5–18.5% reported guidance range. Cardiovascular was the growth engine at 28.8% reported (27.4% organic), led by 31.1% growth in Cardiology and the FARAPULSE pulsed field ablation launch, while MedSurg grew 12.4% reported (7.0% organic). Full-year net sales were $16.747 billion, up 17.6% reported and 16.4% organic. GAAP EPS for Q4 was $0.38, below the $0.41–0.43 guidance, due largely to $111 million of intangible asset impairments and acquisition-related charges, while adjusted EPS of $0.70 beat the $0.64–0.66 guidance range. Full-year adjusted EPS was $2.51 versus $2.05 in 2023. Looking ahead, management guided 2025 reported net sales growth of 12.5–14.5% (10–12% organic) and first-quarter reported growth of 17–19% (14–16% organic). Full-year 2025 adjusted EPS is guided to $2.80–2.87, with GAAP EPS of $1.86–1.93. The guidance implies a deceleration from 2024's pace, partly because acquisitions (Axonics, Cortex, and pending deals for Bolt Medical and Intera Oncology) contribute roughly 3.5 to 4 points of growth that will not be organic. Investors will likely focus on whether the organic growth rate can hold near the low-double-digit range as the FARAPULSE and WATCHMAN franchises mature and competitive pressure increases. The filing is a furnished (not filed) Item 2.02 earnings release, and the figures are unaudited. The gap between GAAP and adjusted EPS remains significant, driven by amortization, impairments, and restructuring, so investors should weigh both measures when assessing earnings quality.

Feb 5, 2025 8-K

Leadership ChangesExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Jan 16, 2025)

Boston Scientific (BSX) filed this Form 8-K to disclose that on January 8, 2025, the U.S. District Court for the District of Massachusetts granted preliminary approval to a proposed settlement of two shareholder derivative actions (Nachbaur and Tripson, the latter pending in Delaware Chancery) and related books-and-records demands tied to the prior recall and retirement of the LOTUS Edge Aortic Valve System. The settlement is primarily non-monetary: the company's board must adopt a set of corporate governance reforms within 90 days of final approval (per the Notice; the Stipulation says 30 days), maintained for at least three years. Reforms cover audit, risk, nominating and compensation committee charters, a new management Disclosure Committee charter, a Rule 10b5-1 and insider trading policy overhaul, and enhanced director education. The only quantified cost disclosed is an $800,000 attorneys' fee and expense payment to plaintiffs' counsel, plus a service award of up to $2,500 per stockholder plaintiff, subject to court approval. The settling defendants deny all wrongdoing, and no damages payment to the company is described. For investors, the financial exposure appears immaterial, since the monetary component is modest relative to a company of Boston Scientific's size, and the filing contains no admission of liability. The more relevant items are the governance changes, which tighten oversight of disclosure controls, recall reporting to the Risk Committee, and insider trading controls, and the ongoing legal overhang until final approval. The final approval hearing is scheduled for March 25, 2025, and written stockholder objections are due by March 4, 2025. The Stipulation's reference to a Securities Class Action settlement indicates that a separate securities case has already been resolved or was recently approved. Note that the filing's internal inconsistencies, such as the 30-day versus 90-day adoption timing for the reforms and the reference to a December 2023 date for the securities class action settlement, should be reviewed against the full filed documents before relying on specific deadlines.

Jan 16, 2025 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Nov 22, 2024)

Boston Scientific Corporation (BSX) has filed an 8-K report detailing the approval of its 2025 compensation plans for key personnel, including executive officers. The company's Board of Directors, upon recommendation from its Compensation Committee, has adopted the 2025 Annual Bonus Plan and two new performance share programs: the 2025 Relative Total Shareholder Return Performance Share Program (rTSR PSP) and the 2025 Organic Net Sales Growth Performance Share Program (Organic Net Sales PSP). These plans are designed to align executive compensation with company performance and shareholder interests, featuring metrics such as global sales, adjusted earnings per share, operating income, environmental, social, and governance (ESG) goals for the annual bonus, and relative total shareholder return and organic net sales growth over a three-year period for the performance shares. The structures are largely similar to the prior year's plans, with provisions for bonus payouts ranging from 0% to 225% of target for individuals and performance share awards ranging from 0% to 200% of target, contingent on meeting specific criteria. Importantly, all awards are subject to clawback provisions and recoupment policies in cases of executive misconduct or material policy violations causing significant harm to the company.

Nov 22, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Nov 15, 2024)

On November 15, 2024, Boston Scientific (BSX) completed its acquisition of Axonics, Inc. (Nasdaq: AXNX), a medical technology company focused on devices for urinary and bowel dysfunction. The cash purchase price of $71 per share implies an equity value of approximately $3.7 billion and an enterprise value of approximately $3.3 billion, net of roughly $0.4 billion in net cash and short-term investments as of September 30, 2024. The equity value is based on roughly 51.7 million fully diluted shares, including management incentives. Strategically, the deal lets Boston Scientific enter sacral neuromodulation, which management describes as a high-growth adjacency for its Urology business. The product portfolio is intended to serve patients across life stages and incontinence severities. The filing is a routine event disclosure under Item 8.01, and the press release provides no quantitative revenue or growth figures for Axonics. For investors, management expects the deal to be immaterial to adjusted EPS in 2024 and 2025 and accretive thereafter. On a GAAP basis, the deal is expected to be more dilutive because of amortization and acquisition-related charges. Key risks cited include integration of Axonics' operations, retention of business relationships after closing, and the realization of anticipated benefits.

Nov 15, 2024 8-K

Regulation FD

BOSTON SCIENTIFIC CORP 8-K Report, Regulation FD Disclosure (Nov 7, 2024)

Boston Scientific Corporation (BSX) has announced the resumption of its AVANT GUARD clinical trial, which is investigating a new patient group: drug-naïve individuals with persistent atrial fibrillation. This decision follows a thorough assessment of the trial's observations and consultation with the study's data monitoring committee. The resumption of enrollment is a significant development for the company's pipeline, particularly in the cardiovascular space, and signals confidence in the trial's ongoing progress and safety profile.

Nov 7, 2024 8-K

Leadership ChangesRegulation FDExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Oct 23, 2024)

Boston Scientific reported strong third-quarter 2024 results for the period ended September 30, 2024. Net sales reached $4.209 billion, up 19.4% on a reported basis and 18.2% on an organic basis, beating the company's guidance range of 13 to 15 percent. Growth was driven overwhelmingly by Cardiovascular, which rose 25.0% reported to $2.731 billion, led by Cardiology up 29.2%, while MedSurg grew 10.3% reported (7.7% organic). The U.S. was the standout region at 23.5% growth, and Emerging Markets grew 15.2% reported. GAAP EPS was $0.32, down from $0.34 a year earlier and below the $0.36 to $0.38 guidance range, largely reflecting acquisition-related charges, amortization, and a higher tax expense. Adjusted EPS of $0.63 came in well above the $0.57 to $0.59 guidance range, versus $0.50 a year ago. Management raised its outlook for the year and the fourth quarter. Full-year 2024 reported net sales growth is now guided to approximately 16.5% (about 15% organic), and fourth-quarter reported growth to 16.5% to 18.5%, with organic growth of 14% to 16%. Adjusted EPS guidance is $2.45 to $2.47 for the full year and $0.64 to $0.66 for the fourth quarter, while GAAP EPS guidance is $1.28 to $1.30 for the year and $0.41 to $0.43 for the quarter. The filing also notes the completed acquisition of Silk Road Medical, which contributed to reported growth above organic growth and is reflected in the guidance reconciliation as a roughly 2 percentage point headwind to organic growth adjustments. From an investor standpoint, the quarter shows broad-based momentum, particularly in cardiology, the FARAPULSE pulsed field ablation franchise, and international expansion. Investors should weigh the gap between strong adjusted results and lower GAAP earnings, which is driven by recurring acquisition-related and amortization charges, and monitor how sustainable the very high Cardiology growth rate is as comparisons become more difficult.

Oct 23, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Jul 30, 2024)

Boston Scientific (BSX) filed an 8-K on July 30, 2024 reporting a routine board change rather than any financial results or operational update. The Board increased its size from ten to eleven directors and appointed David C. Habiger, effective immediately, to serve until the next annual meeting. He was also named to the Audit Committee and the Executive Compensation and Human Resources Committee. Habiger's compensation is standard for non-employee directors, prorated through the 2025 annual meeting. It includes a cash retainer of about $94,175 (from a $125,000 annual program amount, payable in cash or an equity alternative) and an equity award of about $161,981 (from a $215,000 annual grant) that vests at the end of his term. The share count will be set on August 1, 2024. The Company also intends to sign its standard indemnification agreement with him, and he reported no related-party transactions requiring disclosure. For investors, this filing is low-impact. It contains no guidance, earnings, or change in strategy, and the director's background in technology company leadership and executive compensation oversight adds governance depth. The 8-K itself is not a material event for valuation.

Jul 30, 2024 8-K

Leadership ChangesCorporate ChangesRegulation FD+2

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Jul 24, 2024)

Boston Scientific (BSX) reported second-quarter 2024 results on July 24, 2024 that beat the company's own guidance on both top and bottom lines. Net sales were $4.120 billion, up 14.5% on a reported basis, 16.1% operationally (ex-FX) and 14.7% organically, versus guidance of 10.5–12.5% reported and 10–12% organic. Growth was led by Cardiovascular (up 19.0% organic, with Cardiology up 22.0%), while MedSurg grew a more modest 7.6% organically. The U.S. grew 16.9%, EMEA 16.1% operationally, APAC 13.2% operationally, and Emerging Markets 19.3% operationally. Adjusted EPS was $0.62, above the $0.57–0.59 guidance range, while GAAP EPS was $0.22, well below the $0.35–0.37 guidance range, largely because of an $276 million intangible asset impairment charge. Profitability showed a notable split between GAAP and adjusted results. Gross margin on a GAAP basis was about 69.2% (2,850/4,120), and adjusted gross profit was $2,899 million. GAAP operating income was $520 million, roughly flat year over year, and was pressured by the impairment charge, higher SG&A ($1.446 billion versus $1.354 billion), and R&D growth. Adjusted operating income rose to $1.119 billion from $964 million. Interest expense increased to $77 million from $70 million. Net income attributable to common stockholders rose to $324 million from $261 million. Looking ahead, management raised its full-year 2024 reported net sales growth outlook to 13.5–14.5% and organic growth to 13–14%. Full-year adjusted EPS guidance is $2.38–2.42, while GAAP EPS guidance is $1.34–1.38. For the third quarter, the company guided to 13–15% growth on both reported and organic bases, with adjusted EPS of $0.57–0.59 and GAAP EPS of $0.36–0.38. Pending the Silk Road Medical acquisition, which is subject to customary closing conditions, investors should monitor integration, further impairment risk, and the company's ability to sustain double-digit growth in Cardiovascular.

Jul 24, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (May 10, 2024)

Boston Scientific's May 10, 2024 8-K covers three routine corporate matters rather than financial results. First, the Board expanded from nine to ten directors and appointed Dr. Cheryl Pegus, a cardiologist and former Walmart, Walgreens, and Cambia Health executive, effective May 8, 2024, with seats on the Executive Compensation and Human Resources Committee and the Risk Committee. Her director pay is prorated through the 2025 annual meeting, including roughly $122,950 in cash and an equity award valued at about $211,474, with shares to be granted June 3, 2024. Second, the Board adopted amended and restated By-Laws effective May 9, 2024, making only clerical and administrative changes. The most financially relevant item is the third amendment to the company's $2.75 billion revolving credit agreement, dated May 10, 2024. It extends the maturity for consenting lenders from May 10, 2027 to May 10, 2029, revises the ratings-based pricing grid for the applicable margin, and resets the look-back date for restructuring-related add-backs to Consolidated EBITDA under the Maximum Leverage Ratio covenant. Under the amendment, the company may exclude up to $500 million of restructuring and similar charges measured from March 31, 2024, replacing the prior December 31, 2022 starting point. This gives Boston Scientific more covenant flexibility during its ongoing cost-optimization efforts and extends its liquidity runway. Overall, the filing signals board refreshment, governance housekeeping, and a proactive credit facility extension that strengthens liquidity and covenant headroom. None of the filing discloses new revenue, earnings, or guidance, so investors should view it as incremental rather than thesis-changing, though the covenant reset is worth monitoring alongside future restructuring spending.

May 10, 2024 8-K

Shareholder MattersCorporate ChangesExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Bylaw Amendment (May 6, 2024)

Boston Scientific Corporation (BSX) filed an 8-K on May 6, 2024, primarily detailing outcomes from its 2024 Annual Meeting of Stockholders held on May 2, 2024. The most significant event for investors is the stockholder approval of an amendment and restatement of the Company's By-Laws. These amendments introduce updated advance notice requirements for stockholders wishing to propose business or nominate directors, now requiring notice not less than 90 days nor more than 120 days prior to the anniversary of the preceding year's annual meeting. They also enhance compliance with universal proxy rules, including provisions to disregard votes for director nominees if the soliciting stockholder fails to meet Rule 14a-19 requirements. In addition to the by-law changes, the filing confirms the election of all nine director nominees for one-year terms and the advisory approval of executive compensation. The appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2024 was also ratified. These actions reflect governance updates and routine corporate business conducted at the annual meeting, with the amended By-Laws becoming effective as of May 2, 2024.

May 6, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Apr 24, 2024)

Boston Scientific (BSX) reported a strong first quarter 2024, with net sales of $3.856 billion, up 13.8% on a reported basis, 15.0% operationally, and 13.1% organically year over year. Growth beat the company's guidance ranges (7.5–9.5% reported and 7–9% organic). GAAP EPS was $0.33 diluted versus $0.21 a year earlier, and adjusted EPS was $0.56 versus a guided range of $0.50–0.52. Cardiovascular sales grew 15.9% reported (16.3% organic), led by the initial U.S. launch of the FARAPULSE pulsed field ablation system, while MedSurg grew 10.3% reported (7.8% organic). Geographically, Asia-Pacific (+18.3% reported, +25.9% operational) and Emerging Markets (+22.6% reported, +28.2% operational) were the fastest-growing regions, and the U.S. grew 12.7%. Management raised its full-year 2024 outlook, guiding to reported net sales growth of 11–13% and organic growth of 10–12%, with GAAP EPS of $1.43–$1.48 and adjusted EPS of $2.29–$2.34. For Q2 2024, it guided to reported sales growth of 10.5–12.5%, organic growth of 10–12%, and adjusted EPS of $0.57–$0.59. The press release also notes a €2.0 billion Senior Notes offering, with proceeds earmarked to help fund the pending acquisition of Axonics, Inc. (Nasdaq: AXNX). Several product milestones were reported, including the FDA approval of the AGENT drug-coated balloon and expanded indications for the WaveWriter spinal cord stimulator. Investors should note that reported growth benefited from a 1.2-point foreign currency tailwind, while acquisitions and divestitures were a 1.9-point drag on reported growth, so organic growth is the cleaner read on underlying demand. Reported net income of $495 million was also flattered by a $0.12-per-share amortization add-back in the adjusted figures, which is excluded from non-GAAP EPS. The filing is furnished under Item 2.02 (Exhibit 99.1), so its content is not deemed filed under Section 18 of the Exchange Act.

Apr 24, 2024 8-K

Material AgreementsFinancial EventsOther Events+1

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Apr 4, 2024)

Boston Scientific Corporation (BSX) has filed an 8-K to disclose that both the Company and Axonics, Inc. received a "Second Request" from the U.S. Federal Trade Commission (FTC) on April 3, 2024. This request is in connection with the FTC's ongoing review of the proposed merger between Boston Scientific and Axonics, originally announced on January 8, 2024. The issuance of the Second Request extends the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). The waiting period will now remain in effect until 30 days after both parties have substantially complied with the FTC's information requests, unless terminated earlier or further extended. Boston Scientific and Axonics expect to respond promptly and cooperate fully with the FTC. Consequently, the closing of the merger is now anticipated in the second half of 2024, a shift from previous expectations. This delay is subject to the HSR Act waiting period and other customary closing conditions. Investors should monitor the progress of the FTC's review and the Company's subsequent disclosures regarding the merger's completion timeline and any potential impact on strategic integration.

Apr 4, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Feb 27, 2024)

On February 22, 2024, Boston Scientific (BSX) priced and, on February 27, 2024, completed a €2.0 billion senior notes offering issued by its wholly owned finance subsidiary, American Medical Systems Europe B.V. The offering comprises €750 million of 3.375% notes due 2029 and €1.25 billion of 3.500% notes due 2032, fully and unconditionally guaranteed by the parent. Net proceeds were approximately €1.980 billion. The proceeds, together with commercial paper borrowings and cash on hand, are earmarked primarily to finance the cash purchase price of the previously announced acquisition of Axonics, Inc. (agreed January 8, 2024), with any remaining proceeds used to repay the 3.450% senior notes maturing March 2024 and for general corporate purposes. For investors, the key development is the scale of incremental debt tied to the Axonics deal, which will increase BSX's leverage until the acquisition closes and debt is serviced from operating cash flow. The notes carry a special mandatory redemption feature at 101% of principal plus accrued interest if the Axonics acquisition is not consummated by the outside date (January 8, 2025, extendable to no later than January 8, 2026) or if the company notifies the trustee it will not pursue the deal. This provides a backstop protecting noteholders, and by extension limits the company's downside exposure if the transaction fails, though it also means a failed deal would require a near-term cash outlay to retire the notes. The filing is largely a financing disclosure rather than a change in operating results. The Indenture's covenants restrict mergers or asset transfers of all or substantially all assets and limit liens, subject to customary exceptions. Investors should monitor the Axonics closing timeline, the company's commercial paper usage, and the leverage profile in upcoming quarterly reports.

Feb 27, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Jan 31, 2024)

Boston Scientific Corporation (BSX) announced key executive leadership changes within its finance department, effective March 1, 2024. Jonathan Monson, currently Senior Vice President, Global Controller and Chief Accounting Officer, will transition to the role of Senior Vice President, Investor Relations. This move signals a strengthened focus on investor communications and engagement. Concurrently, Emily Woodworth (Collins) has been appointed as the new Senior Vice President, Global Controller and Chief Accounting Officer. Ms. Woodworth brings extensive experience within the company, having most recently served as Vice President of Finance and Controller for the Urology business. Her appointment to this critical financial role indicates a continuation of strong internal talent development and a commitment to experienced leadership within financial operations.

Jan 31, 2024 8-K

Material AgreementsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Jan 31, 2024)

Boston Scientific (BSX) reported strong fourth quarter and full-year 2023 results on January 31, 2024. Q4 net sales reached $3.725 billion, up 14.9% reported, 14.5% operational, and 13.6% organic, beating the company's guidance ranges of 9-11% reported and 8-10% organic. GAAP EPS was $0.34 versus $0.09 a year earlier, and adjusted EPS was $0.55 versus $0.45, both above guidance ($0.26-$0.30 GAAP; $0.49-$0.52 adjusted). Cardiovascular (up 13.9% reported) drove growth, led by Cardiology, while MedSurg grew 11.1%. Asia-Pacific (up 14.8% reported, 17.0% operational) and Emerging Markets (up 16.3% reported) were standout regions. For full-year 2023, net sales were $14.240 billion, up 12.3% reported and 12.3% organic, and GAAP EPS was $1.07 versus $0.45. Adjusted EPS was $2.05, up from $1.71. Management also gave 2024 guidance of 8.5-9.5% reported and 8-9% organic net sales growth, with GAAP EPS of $1.38-$1.42 and adjusted EPS of $2.23-$2.27. First-quarter 2024 guidance called for 7.5-9.5% reported growth and adjusted EPS of $0.50-$0.52. The filing highlights regulatory and pipeline progress, including FDA approval of the FARAPULSE PFA System for paroxysmal atrial fibrillation, the TENACIO Pump approval, the completed Relievant Medsystems acquisition, and the pending Axonics acquisition. Investors should note that the company's full-year 2023 GAAP results included a $111 million litigation-related net credit, and the press release is furnished under Item 2.02 rather than filed.

Jan 31, 2024 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Jan 8, 2024)

Boston Scientific Corporation (BSX) has announced a definitive agreement to acquire Axonics, Inc. through a merger agreement entered into on January 8, 2024. Under the terms of the agreement, Axonics shareholders will receive $71.00 in cash for each share of common stock, and outstanding Axonics stock options, restricted stock awards, and performance stock units will be canceled and converted into cash payments based on the $71.00 per share consideration. This acquisition is a significant strategic move for Boston Scientific, aiming to expand its offerings in the medical technology space. The transaction is subject to customary closing conditions, including Axonics stockholder approval, regulatory approvals (such as Hart-Scott-Rodino antitrust clearance), and the absence of any material adverse effects on Axonics. The merger agreement includes provisions for customary representations, warranties, and covenants, as well as defined termination rights and associated fees for both parties, outlining potential scenarios for deal termination and financial consequences. The company has cautioned investors that forward-looking statements regarding the transaction's impact, timing, and benefits are subject to risks and uncertainties.

Jan 8, 2024 8-K

Regulation FD

BOSTON SCIENTIFIC CORP 8-K Report, Regulation FD Disclosure (Jan 8, 2024)

On January 8, 2024, Boston Scientific (BSX) announced a definitive agreement to acquire Axonics, Inc. (Nasdaq: AXNX), a medical technology company focused on sacral neuromodulation (SNM) devices for overactive bladder and fecal incontinence, plus the Bulkamid urethral bulking system for stress urinary incontinence. The purchase price is $71 per share in cash, implying an equity value of approximately $3.7 billion and an enterprise value of approximately $3.4 billion, after netting roughly $0.3 billion of cash and short-term investments as of September 30, 2023. The deal is expected to close in the first half of 2024, subject to customary closing conditions, including regulatory approvals. Strategically, the acquisition gives Boston Scientific its entry into the sacral neuromodulation market, which management describes as a high-growth adjacency with a U.S. opportunity it estimates at about $800 million in 2022, growing to $1.6 billion within five years. Axonics expects preliminary 2023 net revenue of approximately $366 million, up about 34% year over year, with gross margins near 75%. Boston Scientific expects the deal to be immaterial to adjusted EPS in 2024 and accretive thereafter, and immaterial to total company adjusted operating margin in the first two years, reaching accretion in year three. GAAP EPS is expected to be more dilutive due to amortization and acquisition-related charges. For investors, the key considerations are the valuation relative to Axonics' growth profile, the execution risk of integrating a new therapy area, the dependence on regulatory clearance and closing timing, and the GAAP dilution from purchase accounting. The Axonics 2023 revenue figure is preliminary and unaudited, so the final number may change.

Jan 8, 2024 8-K

Leadership ChangesExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Nov 22, 2023)

Boston Scientific Corporation (BSX) has filed an 8-K report detailing changes within its Board of Directors and outlining its executive compensation plans for 2024. Two long-serving directors, Nelda J. Connors and David J. Roux, have announced they will not seek re-election at the 2024 Annual Meeting of Stockholders. Their departures are amicable and not due to any disagreements with the company. The Board will consider the future composition and size of its board in light of these changes. More significantly for investors focused on executive compensation and performance alignment, the company has approved its 2024 Annual Bonus Plan and two Performance Share Programs (PSPs) for 2024. The Annual Bonus Plan links cash incentives to corporate performance metrics including global sales, adjusted earnings per share, operating income, and quality/ESG goals, with a potential maximum payout of 150% of the target bonus. The PSPs, comprising a Relative Total Shareholder Return (rTSR) program and an Organic Net Sales Growth program, are designed to align executive pay with long-term shareholder value creation over a three-year period. These programs reinforce a pay-for-performance philosophy, with potential awards ranging from 0% to 200% of target based on the achievement of specified metrics.

Nov 22, 2023 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Oct 26, 2023)

Boston Scientific (BSX) reported third quarter 2023 results on October 26, 2023 that beat its own guidance on both top and bottom lines. Net sales reached $3.527 billion, up 11.2% reported, 11.1% operational and 10.2% organic year over year, versus guidance of 8.5-10.5% reported and 7-9% organic. Growth was led by Cardiovascular (up 10.6% organic, with Cardiology up 11.4%) and MedSurg (up 9.4% organic, with Endoscopy up 10.6%). Internationally, Emerging Markets grew 19.0% operationally, and APAC and LACA showed strong operational growth, while U.S. sales grew 8.5%. Profitability also exceeded expectations. GAAP EPS was $0.34, compared with $0.12 a year earlier and guidance of $0.21-$0.25. Adjusted EPS was $0.50, compared with $0.43 a year earlier and guidance of $0.46-$0.48. The GAAP figure was helped by a $111 million litigation-related credit in the quarter. Operating income rose to $693 million from $358 million, although much of that swing reflects lower impairment and litigation-related charges in the comparison period. Management raised full-year 2023 guidance to approximately 11% reported and organic net sales growth, with GAAP EPS of $1.00-$1.04 and adjusted EPS of $1.99-$2.02. Q4 guidance calls for 9-11% reported and 8-10% organic growth, with GAAP EPS of $0.26-$0.30 and adjusted EPS of $0.49-$0.52. The release also highlighted regulatory progress, including FDA approvals for POLARx cryoablation, the latest WATCHMAN FLX Pro, and an expanded WaveWriter indication, and pending positive ADVENT and AGENT trial data. It also announced an agreement to acquire Relievant Medsystems.

Oct 26, 2023 8-K

Leadership ChangesRegulation FDExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Financial Results (Jul 27, 2023)

Boston Scientific reported Q2 2023 net sales of $3.599 billion, up 11.0% reported, 12.0% operational, and 11.6% organic year over year, comfortably ahead of the company's own guidance ranges of 6.5-8.5% reported and 7-9% organic. Growth was broad-based: Cardiovascular grew 12.2% reported (Cardiology 12.3%, Peripheral Interventions 11.9%) and MedSurg grew 9.0% reported (Endoscopy 12.7%, Urology 7.8%, Neuromodulation 2.5%). Geographically, U.S. sales rose 9.1%, EMEA 9.6%, APAC 18.0% and LACA 16.9%, with Emerging Markets up 18.8% reported and 24.2% operational. GAAP net income attributable to common stockholders was $261 million, or $0.18 per diluted share, versus $0.17 a year earlier and well below the company's $0.23-$0.27 guidance, largely due to $57 million of intangible asset impairment charges and substantial acquisition-related and amortization charges. Adjusted EPS was $0.53, above the $0.48-$0.50 guidance range and up from $0.44. Operating income rose to $514 million from $423 million, and the company's six-month interest expense fell sharply versus the prior year, which included $194 million of debt extinguishment charges. Boston Scientific raised its full-year 2023 outlook: reported net sales growth is now expected at 10.5-11.5% and organic growth at 10-11%, while adjusted EPS is guided to $1.96-$2.00 (GAAP EPS $0.87-$0.93). Third-quarter guidance calls for 8.5-10.5% reported and 7-9% organic growth, with adjusted EPS of $0.46-$0.48. Note that the prior-year second quarter included a $42 million litigation charge, and that the press release was furnished under Item 2.02 rather than filed, so its content is not subject to Section 18 liability.

Jul 27, 2023 8-K

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Jun 27, 2023)

Boston Scientific Corporation (BSX) announced on June 27, 2023, a strategic expansion of its Board of Directors, increasing its size from ten to eleven members. The company has appointed two new directors, Jessica L. Mega, MD, MPH, and Susan E. Morano. This move is aimed at strengthening the board's expertise and governance as the company continues its growth trajectory in the medical technology sector. Dr. Mega and Ms. Morano will serve until the next annual stockholder meeting and have been assigned to key board committees: Dr. Mega will join the Executive Compensation and Human Resources Committee and the Risk Committee, while Ms. Morano will be part of the Audit Committee and the Nominating and Governance Committee. Both new directors will receive standard compensation for non-employee directors, including a prorated cash retainer and an equity award, reflecting their commitment and expected contributions to the company's strategic direction and oversight.

Jun 27, 2023 8-K