Boston Scientific Statistics: A global manufacturer, marketer, and developer of medical devices for a broad range of medical specialties. Its mission is to transform lives with innovative medical solutions that improve its patients’ health around the globe. Since its inception, Medical Technology Leaders have been helping doctors and other medical professionals to diagnose and treat a variety of medical conditions. They also help patients to live a better life by providing alternative medical procedures to surgeries and other procedures that can cause trauma to the body. The company’s net sales have increased significantly since its formation. These gains were fueled by strategic acquisitions to increase Boston Scientific Corporation’s ability to profit from growth opportunities within the medical device industry as well as to create diversified portfolios within core businesses. They also provide a wide variety of high-performance solutions to meet unmet medical needs and lower the cost of healthcare.
Locations:
Headquarters:
- Global Headquarters: Marlborough
- Europe Headquarters: France
- APAC and The Middle East Headquarters: Singapore
Manufacturing Plants: Fremont, San Jose, Heredia, Dorado, Clonmel, Valencia, Spencer, Cork, Arden Hills, Maple Grove, Galway, Coyol.
Customer Fulfillment Centers: Quincy, Kerkrade, Osaka, and Yokohama.
Institutes for Advancing Science: Arden Hills, Shanghai, Paris, Maple Grove, Miyazaki, Gurgaon, Istanbul, Tokyo, Ho Chi Minh, Johannesburg, and Bangkok.
Highlights of 2021:
- In 2021, organic net revenues grew by 5.7% compared to 2019, the last period not affected by COVID-19
- Full-year net sales for 2021 reached US$11,888 million. This is an 18.7% growth on an operational basis and 18.9% on an organic basis compared with 2020.
- Boston Scientific Corporation grew operational net revenues by 25.3% in the United States, 16.4 percent in Europe, the Middle East, and Africa (EMEA), 13.9%, in the Asia Pacific (APAC), and 23.3% in Latin America and Canada.
- The adjusted operating margin for the full year was 25.3% with adjusted earnings/share of US$1.63 compared to US$0.96 in 2020.
- Adjusted free cash flow of US$2,200 million was generated, exceeding Boston Scientific’s expectations. Growth of 11% compared to 2020, due to lower working capital as they balanced increasing the inventory and sales recovery.
Business Strategy:
Boston Scientific Corporation follows five strategic imperatives. These include: Strengthen category leadership, expanding into high-growth adjacencies, driving global expansion, Fund the Journey that Fuels Growth, and Develop Key Capabilities. Executing these strategic imperatives will result in innovation, profitable revenue growth, increased stockholder value, and a stronger leadership position within the medical device industry.
The company intends to continue to invest and expand its presence within its core franchises. The research and development of Boston scientific put efforts to focus mainly on developing and deploying novel and next-generation technology offerings in multiple programs and across all divisions. Over the last several years, many acquisitions have been made to support this growth strategy. They helped strengthen the company’s core franchises and expand into high-growth adjacent markets. They have also made it easier to develop digital tools and technologies to be more competitive in the current healthcare market. Customers are constantly looking for ways to improve outcomes and lower costs. This will allow us to serve them better and make doing business with Boston Scientific possible across multiple locations.
The Enterprise Risk Management program analyzes key risks incurred to achieve strategic and organizational objectives. Boston Scientific’s continuous risk assessment allows them to anticipate and adapt potential problems to preserve and increase stockholder value. The Board of Directors monitors the risk management program. They work with management to mitigate the most serious risks facing the Company.
Research and Development:
The investments made in research and development will drive the company’s future growth. These are the benefits of research and development:
- Internal research and development, regulatory design and clinical sciences, and other programs obtained from strategic alliances or acquisitions are some of the programs the company offers.
- Customer feedback is incorporated into engineering efforts to improve current-generation and next-generation products.
Boston Scientific has focused its efforts on developing innovative technologies to expand current markets and enter adjacent markets. They are changing how research and development are done by identifying the best practices, improving efficiency, and optimizing cost structures. The company believes this will increase development activity and allow faster market time. The formal approach to new product design is facilitated by cross-functional teams that are focused and take a structured approach. This allows the company to offer innovative products and manufacture them consistently and efficiently. The cornerstone of their product design cycle is to involve cross-functional groups early in the process. Collaboration allows Boston Scientific’s teams and clients to focus their resources on the most feasible and clinically relevant products and technologies.
Meaningful Innovation:
Boston Scientific continues to strive for improvement in medical technology and the creation of practical products that fulfill unmet clinical requirements. Their innovation is the result of collaborations, partnerships, strategic investments in venture portfolios, and acquisitions. Fast Company has named Boston Scientific a Top Place to Work for Innovators. Clarivate Analytics also named Boston Scientific as one of the Top 100 Global Entrepreneurs for five consecutive years. In 2021, Boston Scientific launched 90 new products and initiated 145 international clinical trials. They also invested more than $1,000 million in research and development and received over 1,250 global regulatory approvals.
International Operations:
Maintaining and expanding the international presence is important as part of Boston Scientific’s long-term strategy for growth. Their international presence helps them increase net sales and market share. They also leverage the company’s relationships and clinical research programs with top physicians to accelerate the time to introduce new products to market. Emerging Markets refers to the 20 countries where Boston Scientific feels that there is strong growth potential. This includes those in the healthcare and economic sectors and the company’s global capabilities. To maximize potential, they have increased infrastructure investments in these countries. Boston Scientific’s list of Emerging Markets countries is updated periodically. Effective January 1, 2021, the list was modified to include the following countries: Brazil, China, Colombia, Chile, Czech Republic, Indonesia, India, Malaysia, Philippines, Mexico, Poland, Saudi Arabia, Russia, Slovakia, South Korea, South Africa, Taiwan, Turkey Thailand, and Vietnam.
Statistics:
Boston Scientific Corporation’s Net Sales
This graph displays the net sales of Boston Scientific Corporation for 2011-2021. Boston Scientific Corporation’s net sales in 2021 were US$11,888 million, an increase from the previous year.
Boston Scientific Corporation’s Net Sales, by Region
This graph displays the net sales of Boston Scientific Corporation for 2021, broken down into regions. With US$ 6,901 million of revenue in 2021, America is Boston Scientific Corporation’s largest region.
Boston Scientific Corporation’s Net Sales, by Product Category
This graph shows net sales for Boston Scientific Corporation, broken down by product type, from 2015 to 2021. The top-selling category was Interventional Cardiology for the entire period. This equated to US$3,038 million in revenue in 2021.
Boston Scientific Corporation’s Total Assets
This graph displays the total assets of Boston Scientific Corporation, from 2014 to 2021. The total assets of Boston Scientific Corporation were US$32,229 million in 2021.
Boston Scientific Corporation’s R&D Expenditure
This graph shows the research and development expenditures of Boston Scientific Corporation for the period 2015-2021. In 2021, Boston Scientific Corporation’s research and development expenses were US$1,204 million.
Boston Scientific Corporation’s Global Workforce
This graph displays the number of employees at Boston Scientific Corporation between 2015 and 2021. In 2021, the global workforce of Boston Scientific Corporation was around 41,000 employees.
Recent Developments:
2022
- Boston Scientific Corporation purchased Baylis Medical Company Inc. in February for US$1,750 million.
- Boston Scientific Corporation and GE Healthcare teamed together in January to offer a complete portfolio of interventional cardiac care in Southeast Asia.
2021
- The company settled claims of patent infringement in October with Micro-Tech Endoscopy.
- The FDA approved the company’s EXALT model B single-use bronchoscope in August.
- Boston Scientific Corporation signed an agreement in January to acquire Preventice Solutions Inc.
- Boston Scientific Corporation acquired Lumenis’ global surgery business from Baring Private Equity Asia in September for US$1,070 million.
- Boston Scientific Corporation and other investors invested US$7.0 million in BurnAlong in March.
- Boston Scientific Corporation signed an exclusive agreement in March to acquire ControlRad Select technology.
- Boston Scientific Corporation acquired the remaining 73% stakes of Farapulse (a medical device company) in June.
- Boston Scientific Corporation reached an agreement in September to purchase the remaining Devoro Medical stake for US$336 million.
