|Traded as||NYSE: BSX)
S&P 500 Component
|Headquarters||Natick, Massachusetts, United States|
|Key people||John Abele, Founder & Director
Peter Nicholas, Founder & Chairman
Mike Mahoney, President, CEO
$ 7.6 billion (FY 2011)
|Operating income||$ 904 million (FY 2011)|
|Net income||$ 441 million (FY 2011)|
|Total assets||$ 21.2 billion (FY 2011)|
|Total equity||$ 11.3 billion (FY 2011)|
|Employees||24,000 (December 2011)|
The Boston Scientific Corporation (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology.
Boston Scientific is well known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries.
Boston Scientific's main competitors are Johnson and Johnson, Medtronic, St. Jude Medical, and Vascular Solutions. On April 21, 2006, the company acquired longtime competitor Guidant for $27.2 billion. The former Guidant was split between BSC and Abbott Laboratories.
In October 2010, the company was fined $600,000 by the US Department of Justice for paying a US Army doctor to use their devices and recommend them to others.
Johnson & Johnson lawsuits
Beginning in 2003, Boston Scientific and Johnson & Johnson were involved in a series of litigations involving patents covering heart stent medical devices. Both parties claimed that the other had infringed upon their patents. The litigation was settled once Boston Scientific agreed to pay $716 million to Johnson & Johnson in September 2009 and an additional $1.73 billion in February 2010.
On Nov 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.
- "Boston Scientific 2011 Annual Report, Form 10-K, Filing Date Feb 17, 2012". secdatabase.com. Retrieved June 12, 2012.
- "Guidant battle ends in favor of Boston Scientific". Associated Press. January 25, 2006. Retrieved 2008-02-11.
- "Boston Scientific Completes Combination with Guidant". April 21, 2006. Retrieved 2008-02-11. Boston Scientific's press release on the acquisition.
- "Boston Scientific Spin-off Aiming to Tap Veins Without Causing Infections". August 5, 2008. Retrieved 2009-02-23.
- Bernton, Hal, "Army Whistle-Blower Fights To Clear Name", Seattle Times, 14 August 2011, p. 1.
- Boston Scientific to Pay J&J $1.73B to Settle Stent Patent Disputes, The Wall Street Journal, February 2, 2010
- "Boston Scientific Addresses Japan Business Irregularities".