Boston Scientific Corporation Company Profile
Boston Scientific Corporation
Medical Industry
- Type
Public
- Headquarters
The US
- Establishment
1979
- Key Management
Mr. Michael F. Mahoney(Chairman & President)
- Revenue
~ 11,888 (2021)
- Headcount
~25,000 (2021)
- Website
Business Description
Boston Scientific Corporation develops, markets, and manufactures medical products. The company was founded in 1979 and is headquartered in Marlborough, Massachusetts, USA. It also sells thrombectomy systems, stents, wires, and stents to treat venous diseases. The company also offers cardiac rhythm management devices such as an implantable cardioverter-defibrillator system to treat abnormalities; a remote patient’s management system; an implantable heart resynchronization therapy pacemaker system; and medical technologies to diagnose, treat and manage rate and rhythm disorders of your heart.
These include intracardiac ultrasound catheters and ablation catheters. These include diagnostic catheters, delivery sheaths, and a mapping system. The company also sells products to diagnose and treat gastrointestinal and lung diseases, and devices to treat and alleviate pulmonary disease in the airway, lungs, and other urological conditions. Deep brain stimulation systems are available for the treatment of Parkinson’s, tremors, and Intractable Primary and Secondary Dystonia.
Key Financials
Revenue (US$ Mn):
- Boston Scientific Corporation’s annual revenue for 2021 was US$ 11,888 Mn, a 19.92% increase from 2020
- The annual revenue generated by Boston Scientific Corporation in 2020 was US$ 9,913 Mn
- At a 9.28% increase, Boston Scientific Corporation’s annual revenue of US$ 10,735 Mn was indexed in 2019
- Boston Scientific Corporation generated total revenue of US$ 9,823 Mn in 2018
Operating Income (US$ Mn):
- US$ 1,824 Mn was Boston Scientific Corporation’s operating income in 2021, a 166.67% increase from 2020 figures
- Boston Scientific Corporation indexed a -60.69% decrease in operating incomes from 2019, amounting to US$ 684 Mn in 2020
- Boston Scientific Corporation generated an operating income of US$ 1,740 Mn in 2019
- An operating income of US$ 1,659 Mn was indexed by Microsoft Corporation in 2018
Net Income (US$ Mn):
- US$ 1,041 Mn was the net income generated by Boston Scientific Corporation in 2021
- Boston Scientific Corporation’s net income for 2020 was US$ -82 Mn, a -101.74% decrease from 2019
- From 2018’s net incomes, Boston Scientific Corporation registered a 181.27% increase in 2019, amounting to US$ 4,700 Mn
- A net income of US$ 1,671 Mn was generated in 2018 by Boston Scientific Corporation
Operating Margin %:
- 15% was the operating margin generated by Boston Scientific Corporation in 2021
- Boston Scientific Corporation’s operating margin for 2020 was 7%, a -57.41% decrease from 2019
- From 2018’s operating margins, Boston Scientific Corporation registered a -4.14% decrease in 2019, amounting to 16%
- An operating margin of 17% was generated in 2018 by Boston Scientific Corporation
Gross Margin %:
- Boston Scientific Corporation’s gross margin for 2021 was 68%, a 5.23% increase from 2020
- The gross margin generated by Boston Scientific Corporation in 2020 was 65%
- At a -0.56% decrease, Boston Scientific Corporation’s gross margin of 71% was indexed in 2019
- Boston Scientific Corporation generated a gross margin of 71% in 2018
SWOT Analysis
Strengths
Significant R&D capabilities help the company to develop new and innovative products
Boston Scientific has a strong research and development (R&D) network, which differentiates it from its competitors. In FY2018, the company spent US$1,113 million on R&D, which accounted for 11.3% of the company’s revenue. Its R&D activities focus on developing new products, and programs and upgrading existing products. It also develops innovative technologies to expand its presence in current markets and enter adjacent markets. Moreover, the company works with universities and clinicians, research institutions around the world to develop, evaluate and clinically test the products. The company has research and development capabilities in Ireland, Costa Rica, Puerto Rico, India, Germany, and China. As of December 31, 2018, the company had more than 19,000 patents and approximately 5,000 patent applications pending.
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