Buoyed by billion-dollar deals, its stock is up 50% this year. How did Boston Scientific get its mojo back?
Nov. 13, 2024
The day after completing its latest billion-dollar deal, Boston Scientific dispatched food trucks to hand out fried chicken sandwiches and burritos to Silk Road Medical employees in California and Minnesota, before holding a town hall-style meeting to welcome them into the fold.
That September day was a big one for the teams at Silk Road, which makes stroke-prevention devices. But deals like this are a regular occurrence for Boston Scientific, and the Marlborough company has the process down to, well, a science. During chief executive Mike Mahoney’s 12-year tenure, Boston Scientific has completed more than 40 acquisitions, helping turn the medical device maker into one of Massachusetts’ most valuable companies.
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This might be surprising considering the damage caused by its bet-the-farm, $27 billion deal in 2006 for pacemaker company Guidant, which sealed a victory in its bidding war against the larger Johnson & Johnson. That infamous merger saddled Boston Scientific with billions in debt and liabilities related to problems with Guidant’s devices.
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