Boston Scientific has agreed to acquire Penumbra Inc. in a $14.5 billion all-cash transaction, marking a pivotal expansion into mechanical thrombectomy—the removal of blood clots in stroke patients. The deal underscores Boston Scientific’s strategic push into high-growth neurovascular therapies.
- Boston Scientific to acquire Penumbra in $14.5 billion all-cash deal
- Penumbra’s 2024 revenue: ~$870 million
- Stock surge: Penumbra shares rose 12% post-announcement
- Expected cost synergies: up to $200 million annually by Year 3
- Deal closes expected in late 2026, subject to regulatory approvals
Boston Scientific Corp. announced a definitive agreement to purchase Penumbra Inc. in an all-cash transaction valued at $14.5 billion, effective upon regulatory approval and closing conditions. The acquisition is designed to accelerate Boston Scientific’s presence in the neurovascular space, particularly in mechanical thrombectomy devices used to treat ischemic strokes. Penumbra, a leader in clot-removal technologies, reported revenue of approximately $870 million in 2024, with strong growth in international markets and increasing adoption in acute stroke centers globally. The deal reflects Boston Scientific’s broader strategy to shift toward higher-margin, specialty medical device segments. With the addition of Penumbra’s portfolio—including its flagship Solitaire FR and Treo systems—Boston Scientific gains immediate access to a clinically validated platform for treating large vessel occlusions. The transaction implies a premium of roughly 35% over Penumbra’s closing share price prior to the announcement, signaling robust investor confidence in the long-term value of the combined entity. Following the announcement, Penumbra’s shares rose 12%, reflecting market optimism about the synergies and scale potential under Boston Scientific’s infrastructure. Analysts estimate the integration could generate up to $200 million in annual cost synergies by Year 3 post-close, primarily through supply chain optimization and R&D consolidation. Meanwhile, Boston Scientific’s stock dipped slightly on the news, as investors weighed the significant cash outlay against near-term earnings dilution. The merger is expected to close in late 2026, pending antitrust review and shareholder approvals. The combined business will operate as a standalone division within Boston Scientific, retaining Penumbra’s brand identity and research team. This move positions Boston Scientific to compete more effectively with Medtronic and Siemens Healthineers in the rapidly expanding global stroke intervention market.