Boston Scientific to acquire Penumbra for $14.5B
Boston Scientific has agreed to acquire Penumbra, a California-based medtech company focused on vascular technologies, for approximately $14.5 billion. This is a cash and stock transaction that values Penumbra at $374 per share.
Penumbra is known for its mechanical thrombectomy devices, including those used to perform peripheral vascular disease treatments, and a variety of offerings in the neurovascular space. The company, founded in 2004, currently has more than 4,500 employees and expects its 2025 revenue to total approximately $1.4 billion. That figure represents growth of more than 17% compared to the previous year.
The Indigo System CAT RX from Penumbra. Image courtesy of Penumbra.
“Penumbra is a well-established company with an experienced, high-performing team and this acquisition offers Boston Scientific an opportunity to enter new, fast-growing segments within the vascular space,” Mike Mahoney, chairman and CEO of Boston Scientific, said in a prepared statement. “I'm thrilled to combine the talents and shared values of our teams—including welcoming Penumbra's chairman and chief executive officer, Adam Elsesser, to our board of directors upon close. The addition of Penumbra can expand access for these novel technologies to more patients and customers around the world, further enhancing our revenue and margins over time with proven offerings that have a history of growth and innovation.”
“Our decades-long development of therapies for challenging medical conditions has focused on deep innovation for complex diseases so that we can offer physicians novel solutions to transform patient care," added Elsesser. “I am grateful for the amazing people who have contributed to this work and look forward to uniting our efforts and shared values as we come together with Boston Scientific.”
According to Boston Scientific, it plans on financing the approximately $11 billion in cash required for this transaction with cash on hand and by taking on some new debt.
This deal is still not finalized quite yet, but the companies plan on officially closing in the months ahead.
Penumbra recently had a very successful landmark trial for its technology in treating intermediate- to high-risk pulmonary embolism, which is widely expected to change the standard of care. Read more
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.