Boston Scientific posts revenue, earnings growth in 1Q
During the first quarter of 2017, Boston Scientific’s sales increased 10 percent to $2.16 billion compared with the same time period last year. The company also reported GAAP earnings of $0.21 per share, up from $0.15 per share in the first quarter of 2016.
Boston Scientific announced the results on April 27.
Boston Scientific achieved revenue growth in each of its three business segments, including an 8 percent increase in its cardiology division and 7 percent increase in its rhythm management division.
In the cardiology division, interventional cardiology sales increased 8 percent to $590 million and peripheral interventions’ sales increased 7 percent to $261 million. In the rhythm management division, cardiac rhythm management sales increased 7 percent to $463 million and electrophysiology sales increased 8 percent to $64 million.
The results took into account the company’s decision in February to remove the Lotus valve from commercial and clinical sites and delay its FDA submission for the Lotus Edge transcatheter aortic valve replacement (TAVR) device. The company expects the Lotus devices to return to Europe and other markets in the fourth quarter of 2017 and plans on getting an FDA decision on the Lotus Edge next year.
Boston Scientific also announced updated guidance figures. The company expects $8.8 billion to $8.9 billion in revenue this year, up from its previous estimate of $8.675 billion to $8.875 billion. It now estimates full-year GAAP income of $0.81 to $0.86 per share, which is a decrease from its last estimate of $0.86 to $0.91 per share.
On March 30, Boston Scientific announced it had agreed to pay $435 million to acquire Symetis SA, a privately held company focusing on developing TAVR devices. Symetis does not have any FDA-approved TAVR devices, but it has devices approved in Europe for high-risk patients with severe, symptomatic aortic valve stenosis.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.