Boston Scientific Corporation – Company Information

Company The Boston Scientific Corporation
Headquarters 300 Boston Scientific Way, Marlborough, MA 01752-1234
CEO and President Michael F. Mahoney
CFO Daniel J. Brennan
Industry Medical Equipment
Founder John Abele and Pete Nicholas
Founded 1979
Type Public
NYSE stock symbol BSX
Revenue $7,380 billion (2014)
Net loss $(119) million (2014)
Loss per share $(0.09) USD (2014)
Employees 24,000 (2014)
Investor Relations contact number: 508-683-5670

The Boston Scientific Corporation (abbreviated BSC) is an American multinational manufacturer of medical devices. The company is based in Marlborough, Massachusetts.

Its products and technologies are used to diagnose a number of medical conditions, including: heart, pulmonary, digestive, urological,vascular, chronic pain, and women’s health conditions.

Boston Scientific has 12 manufacturing facilities worldwide with a market presence in 100 countries.

It has five core businesses:

Electrophysiology – focuses on diagnosing and treating heart rhythm disorders, such as mapping catheters, radio-frequency energy, and cryogenics. Its solutions include: cardiac tissue ablation, cardiac mapping, cardiac catheterization, sheaths, and diagnostic catheters.

Endoscopy – offers tools for diagnosing and treating digestive system and respiratory diseases. Its solutions include: balloon dilation, stenting, ERCP/Cholangioscopy, biliary, biopsy and polypectomy, hemostasis, radio frequency ablation, and enteral feeding.

Interventional Cardiology – provides technologies for diagnosing and treating cardiovascular disorders. Its solutions include: drug-eluting stents, bare-metal stents, catheters, balloons, guide wires, coronary atherectomy, and coronary intravascular ultrasound.

Neuromodulation – has a wide range of technologies for neurological diseases. Its solutions include: neurostimulation, rechargeable spinal cord stimulators, and microstimulators.

Peripheral Interventions – offers technologies that treat vascular system blockages. Its solutions include: carotid artery stenting, embolic protection, balloon catheters, vascular protection, iliac solutions, and renal solutions.

Rhythm Management – provides technologies that treat irregular heart rhythms and heart failure. Its solutions include: pacemakers, implantable cardioverter defibrillators (ICDs), cardiac resynchronization therapy (CRT) devices, remote monitoring systems, pericardiocentesis, pacing leads and ICD leads.

Urology and Women’s Health – focuses on technologies that treat urological and gynecological disorders. Its solutions include: endometrial ablation, holmium laser ablation of the prostate (HoLAP), stone retrieval/lithotripsy, pelvic floor reconstruction, mid-urethral slings, and urethral bulking.

Boston Scientific was founded on June 29, 1979 by John Abele and Pete Nicholas. It went public on May 19, 1992. The company is currently publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘BSX’.

Income statement data (in $ millions) 2014* 2013*
Net sales $7,380 $7,143
Cost of products sold $2,210 $2,174
Gross profit $5,170 $4,969
Selling, general and administrative expenses $2,902 $2,674
Research and development expenses $817 $861
Total operating expenses $5,471 $4,849
Operating income (loss) $(301) $120
(Loss) income before income taxes $(509) $(223)
Income tax (benefit) expense $(390) $(102)
Net (loss) income $(119) $(121)
Balance sheet data (in $ millions)
Total assets $17,042 $16,571
Long term debt $3,859 $4,252
Total stockholders’ equity $6,457 $6,539
Common share data (in $)
Earnings (loss) per Common Share – Basic $(0.09) $(0.09)
Earnings (loss) per Common Share – Diluted $(0.09) $(0.09)
Cash flow data (in $ millions)
Cash provided by operating activities $1,269 $1,110
Cash used in investing activities $(745) $(475)
Cash used for financing activities $(150) $(624)
Cash and cash equivalents at beginning of year $217 $207
Cash and cash equivalents at end of year $587 $217

*Years Ended December 31

Source: “The Boston Scientific Corporation Form 10-K 2014”