16 Facts About Boston Scientific

Boston Scientific is widely known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries.

Boston Scientific was formed forty-three years ago, on June 29,1979, in Watertown, Massachusetts, as a holding company for the medical products company, Medi-Tech, Inc, and to position the company for growth in interventional medicine.

In December 2007, Boston Scientific announced it would sell its Fluid Management and Venous Access businesses for $425 million to Avista Capital Partners.

In January 2009, Boston Scientific announced it would acquire Labcoat Limited, whose primary development was that of a development-stage drug-eluting stent – for an undisclosed sum.

In January 2011, Boston Scientific acquired Atritech, Inc, for $100 million plus additional potential payments of up to $275 million.

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In June 2012, Boston Scientific officially acquired Cameron Health for a total sum of $1.

In May 2014, Boston Scientific acquired hysteroscopic intrauterine tissue removal specialist, IoGyn, Inc In September, the business announced it would acquire the Interventional business of Bayer.

In January 2021, Boston Scientific announced it would acquire Minneapolis-based Preventice Solutions, Inc, and its portfolio of mobile cardiac health solutions for up to $1.

Boston Scientific had been a strategic investor in Devoro since 2019.

Boston Scientific has set a standard for implementing an integrative organizational culture and states that it actively strives to further improve this by, among other things, increasing diversity among its employees – and in particular, among its managers, executives, and directors.

Boston Scientific is one of several manufacturers of a medical device called transvaginal mesh, a type of surgical mesh used to treat pelvic organ prolapse.

In 2015, Boston Scientific announced it would pay $119 million to 2,970 lawsuit plaintiffs, who had been injured by the mesh.

In 2005, Boston Scientific paid $74 million to settle allegations that it had continued to sell NIR stents after learning that many of them were defective.

In 2011, Guidant, a subsidiary of Boston Scientific, was criminally convicted of a failure to report defibrillator safety problems to the FDA.

In 2009, Boston Scientific agreed to pay $22 million to settle allegations that its subsidiary Guidant LLC had used kickback schemes to boost sales for its pacemakers and defibrillators .

On November 3,1998, Boston Scientific restated its financial results for 1997, as well as its quarterly results for the first three quarters of 1998, due to the occurrence of business irregularities in the operations of its Japanese subsidiary.