Boston Scientific Acquires Penumbra in $14.5 Billion Deal
Boston Scientific has announced a plan to acquire Penumbra for approximately $14.5 billion. This significant acquisition aims to enhance Boston Scientific’s portfolio in cardiovascular and vascular device markets.
Details of the Acquisition
The acquisition deal consists of a payment of $374 per share in cash and stock. Analysts assert that this valuation represents a fair offer. Ryan Zimmerman, a BTIG analyst, noted that the bid is about 19% above Penumbra’s share price as of the previous Wednesday.
- Acquisition Value: $14.5 billion
- Price per Share: $374
- Expected 2025 Revenue for Penumbra: $1.4 billion
- Anticipated Revenue Growth: Over 17% year-over-year
Impact on Boston Scientific’s Strategy
CEO Mike Mahoney emphasized the acquisition as a strategic move to penetrate new, rapidly growing segments within the vascular space. With Penumbra specializing in devices that remove blood clots and control bleeding, the acquisition opens up opportunities in thrombectomy and embolization markets.
Shagun Singh, an RBC Capital Markets analyst, highlighted that Penumbra has long been considered a potential acquisition target. The interest in Penumbra intensified after Stryker’s $4.9 billion acquisition of Inari Medical, another player in the thrombectomy device sector.
Closing and Future Outlook
The deal is projected to close in 2026, pending shareholder approval and other standard closing conditions. This acquisition positions Boston Scientific to significantly enhance its capabilities in treating conditions like pulmonary embolism, stroke, and deep vein thrombosis.
Through this strategic acquisition, Boston Scientific aims to solidify its position in the evolving medical technology landscape.
