Boston Scientific plans $170M ‘Project Black Bear’ expansion

Boston Scientific (NYSE: BSX) + is planning an expansion outside Minneapolis for a new divisional headquarters campus.

The Marlborough, Massachusetts-based medical device manufacturer is working on the $170 million expansion with the Minneapolis suburb of Maple Grove and the Minnesota Department of Employment and Economic Development (DEED).

The project’s backers were using the code name “Black Bear” as an alias to hide the company’s identity, but Finance & Commerce published a report today confirming the medtech manufacturer’s involvement.

The publication said the new building would have room for its interventional cardiology, peripheral interventions, urology and Watchman divisions. When reached by MassDevice today, Boston Scientific would not say whether those four divisions would all be headquartered at the new facility and declined to answer other questions.

Boston S…

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Boston Scientific to close California facility, lay off 52 employees

Boston Scientific (NYSE: BSX) + filed its intention to reduce its workforce amid a California facility closure.

The facility closure means a reduction of 52 jobs, adding to the 120 positions cut in Texas earlier this year.

This marks the latest round of layoffs in medtech as the industry attempts to navigate difficult economic conditions. MassDevice has reported on more than 18,000 medtech workers let go across the industry since mid-2022. (Have a tip about layoffs at your company or within the industry? Let us know.)

Boston Scientific filed in California to notify the state of its plans to close its facility in Fremont, California. According to the WARN notice, the company reported its permanent closure on June 12. The state received the notice on July 17. Boston Scientific’s closure and reduction goes into effect on Aug. 11.

According to a company spokesperson, the closure comes amid a transfer of…

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Boston Scientific wins FDA nod for image-guided programming software for deep brain stim

The Vercise Neural Navigator 5 with StimView XT technology. [Image courtesy of Boston Scientific]Boston Scientific (NYSE: BSX) + announced today that the FDA approved its Vercise Neural Navigator 5 software.

When used as part of the Vercise Genus deep brain stimulation (DBS) systems, the software offers clinicians simple, actionable data. It enables efficient programming in the treatment of people with Parkinson’s disease or essential tremor.

Vercise Genus delivers targeted electrical stimulation through surgically implanted leads in the brain connected to implantable pulse generators (IPGs). The portfolio received approval for conditional use in a magnetic resonance imaging (MRI) environment in 2021. It consists of Bluetooth-enabled, rechargeable and non-rechargeable, IPGs that power the Vercise Cartesia directional leads.

Boston Scientific’s newly approved software offers the latest addition to the fully in…

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FDA clears Boston Scientific Embold Soft & Packing coils for embolization procedures

Boston Scientific (NYSE: BSX) + announced that it received FDA 510(k) clearance for its Embold Soft & Packing coils.

Marlborough, Massachusetts-based Boston Scientific designed the coils for use in a variety of embolization procedures. They aid in the minimally invasive treatment for blocking one or more blood vessels, obstructing or reducing blood flow. The procedure stops hemorrhaging, prevents aneurysm ruptures, reduces the size of certain tumors and treats venous abnormalities.

According to the company, the coils strengthen its embolic portfolio. They create a single platform consisting of just three coils, which makes it simpler for physicians to address a variety of patient needs and anatomies. Boston Scientific said this also enables streamlined hospital inventory.

The latest Embold coils build on the success of the company’s Embold Fibered Coil, according to a spokesperson. Boston Scientific la…

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Boston Scientific appoints Jessica Mega, Susan Morano to board

Boston Scientific (NYSE: BSX) + today announced two new appointments to its board of directors.

Marlborough, Massachusetts-based Boston Scientific elected Dr. Jessica Mega and Susan Morano to the board. Both appointments go into effect immediately.

Mega co-founded Verily Life Sciences, the Google/Alphabet subsidiary focused on life sciences and healthcare. She served as chief medical and scientific officer from 2015 to January 2023.

Before joining Verily, Mega served as a cardiologist at Brigham & Women’s Hospital from 2008 to 2015. She also held roles as a faculty member at Harvard Medical School and with the TIMI Study Group. Mega also currently serves as a director on the board at Danaher.

Morano served as VP of business development and strategic operations at Johnson & Johnson MedTech from 2020 to February 2023. Before that, the new Boston Scientific board member held the role of VP of b…

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5 keys to Mike Mahoney and Boston Scientific’s success

DeviceTalks Editorial Director Tom Salemi (left) interviewed Boston Scientific CEO Mike Mahoney (right) in front of a crowd of medtech insiders at our DeviceTalks Boston show in early May. [Photo by Jeff Pinette for DeviceTalks/MDO]Boston Scientific (NYSE: BSX) + is one of the bright spots as the medical device industry goes through a rough patch.

It’s more expensive to run a business, and health provider customers face operational challenges. But while other medtech companies are laying off workers, Boston Scientific is hiring. The interventional medical device giant’s workforce grew 10% over the past year to 45,000 employees.

Boston Scientific sales grew 6.7% to $12.7 billion in 2022, and CEO Mike Mahoney and other top company officials expect it to grow another 8.5–10.5% this year.

“Thankfully, we have a very strong innovation cadence right now. In Europe, we grew 20% [operationally] in the first quarter. So why…

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The top cardiac care innovation news at Heart Rhythm 2023

The future of cardiac care was on display at the Heart Rhythm Society’s 2023 annual meeting.

Medical device companies showcased groundbreaking technologies at Heart Rhythm 2023, May 19-21 in New Orleans. The innovations presented during the event offer new avenues for diagnosis, treatment, and monitoring of cardiovascular conditions, providing hope for patients worldwide.

Boston Scientific, Abbott, Medtronic, Philips, and iRhythm unveiled advances that have the potential to revolutionize the field of cardiology and improve patient outcomes.

The cardiology devices showcased at the Heart Rhythm 2023 hold promise for the future of cardiovascular care. As these innovations continue to advance, they have the potential to significantly improve the lives of patients worldwide. Stay tuned as we delve deeper into the details of these groundbreaking technologies and their impact on the field of cardiology.

Here’s a roundup of Associate Editor Se…

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Boston Scientific won’t buy majority stake in M.I. Tech

Boston Scientific (NYSE:BSX) will no longer be acquiring a majority stake in Korea-based medical device manufacturer M.I. Tech.

The Marlborough, Massachusetts-based company announced plans to acquire a 64% stake in M.I. Tech in June 2022. It valued the deal at approximately $230 million.

At the time, the company expected to close the transaction by the end of 2022. However, the deal remained contingent on certain conditions, including regulatory approvals. Those required approvals contributed to the termination of the agreement.

Boston Scientific will instead acquire a nearly 10% stake in M.I. Tech, according to a company spokesperson. M.I. Tech’s offerings include the Hanarostent family of conformable, non-vascular, self-expanding metal stents, which Boston Scientific has distributed the platform in Japan since 2015.

Stat News reported the change of plans on May 24. The Boston Scientific spokesperson provided the following statement on the …

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Boston Scientific reportedly set to add 400 jobs in Ireland

Boston Scientific (NYSE:BSX) is reportedly planning a new investment in Ireland that would create more than 400 jobs.

The Irish Examiner reports that the new investment in Clonmel, County Tipperary, totals $86.3 million (€80 million). Marlborough, Massachusetts-based Boston Scientific plans to expand its manufacturing and R&D capabilities at its existing Clonmel site, the report says.

According to the report, the company already began recruitment for new roles across “a variety of areas.” According to London-based recruitment firm Zenopa, Boston Scientific seeks candidates who specialize in engineering, manufacturing, supply, quality and discovery.

The new investment increases office and manufacturing space in Clonmel, according to the report. It also aims to transition the entire facility to source more than 90% of its energy needs from renewable sources.

“Our growth in the region has been possible thanks to our…

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Boston Scientific reports positive Farapulse, Watchman FLX data

Part of the Farapulse pulsed-field ablation system, the Farawave single-shot catheter is designed to create durable and circumferential lesions. [Image courtesy of Boston Scientific]Boston Scientific (NYSE:BSX) announced data supporting its pulsed-field ablation (PFA) and left atrial appendage closure (LAAC) systems.

Studies backed the company’s key electrophysiology and cardiac rhythm management therapies, plus the Watchman FLX device. In addition to the LAAC device, the Marlborough, Massachusetts-based company shared data on its Farapulse PFA system, POLARx cryoablation system and the Emblem MRI subcutaneous implantable defibrillator (S-ICD).

Boston Scientific presented all data at Heart Rhythm Society’s (HRS) Heart Rhythm 2023 meeting in New Orleans.

“The data shared at this year’s Heart Rhythm meeting showcases the breadth and depth of our cardiology therapies, which spans from diagnosis to treatment of cardiac disease, and highl…

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iRhythm faces another subpoena from the DOJ

Wearable cardiac monitor developer iRhythm (Nasdaq: IRTC) +  disclosed its third subpoena in more than two years from federal investigators.

The news raised some questions from analysts, who were otherwise positive about iRhythm’s first-quarter earnings report yesterday evening.

San Francisco–based iRhythm said that on April 4, it received a subpoena duces tecum from the U.S. Department of Justice Civil Division’s Consumer Protection Branch. Company officials told analysts that they were fully cooperating. They said it was too early to speculate on the nature or timing of the inquiry.

Analysts noted that Boston Scientific said in its most recent quarterly report that it received a subpoena from the DOJ on April 5 seeking documents and information relating to its ambulatory electrocardiography monitoring (AECG) business. Boston Scientific is also cooperating.

BTIG analysts stuck with their Buy r…

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Boston Scientific profits nearly triple in Q1

Boston Scientific (Nasdaq:BSX) + today announced Q1 results that beat the overall consensus forecast on Wall Street.

The Marlborough, Massachusetts-based company reported profits of $314 million, or 21¢ per share, on sales of $3.4 billion for the three months ended March 31, 2023, for a bottom-line gain of 185.5% on sales growth of 12% compared with Q1 2022.

Adjusted to exclude one-time items, earnings per share were 47¢, 4¢ ahead of The Street, where analysts were looking for $3.16 billion in sales.

“I’m pleased with our excellent results this quarter, which highlight our team’s strong performance across each business and region,” CEO Mike Mahoney said in a news release. “With a robust pipeline in 2023 and beyond, I’m optimistic about our ability to continue to deliver differentiated financial performance and the opportunity to reach more patients with life-changing therapies.”

In…

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