Boston Scientific to Acquire Penumbra, Expanding Cardiovascular Portfolio
In a significant move within the medical technology sector, Boston Scientific Corporation has announced a definitive agreement to acquire Penumbra, Inc. for a cash and stock transaction that values Penumbra at $374 per share, amounting to an enterprise value of approximately $14.5 billion. This acquisition is poised to enhance Boston Scientific’s portfolio in the cardiovascular domain, particularly in addressing the rising prevalence of vascular diseases.
The announcement was made on January 15, 2026, with Boston Scientific’s CEO, Mike Mahoney, expressing enthusiasm about the acquisition. He highlighted Penumbra’s established reputation and innovative capabilities in the vascular space, which will allow Boston Scientific to enter fast-growing segments such as mechanical thrombectomy and neurovascular treatments. Mahoney stated, “The addition of Penumbra can expand access for these novel technologies to more patients and customers around the world, further enhancing our revenue and margins over time.”
Cardiovascular diseases remain the leading cause of death globally, affecting millions and often leading to severe complications. Penumbra has developed a robust portfolio of devices designed to treat various conditions, including pulmonary embolism, stroke, and deep vein thrombosis. Notable products include the Lightning Bolt® and Lightning Flash® systems, which are designed for mechanical thrombectomy procedures to effectively remove blood clots from the body.
Adam Elsesser, Penumbra’s CEO, echoed the sentiment of shared values and innovation, emphasizing the company’s commitment to transforming patient care through advanced medical technologies. The merger aims to combine the strengths of both organizations to enhance treatment options for patients suffering from complex vascular conditions.
Financially, Penumbra has demonstrated impressive growth, with expected fourth-quarter revenue growth of approximately 21.4% to 22.0% and a projected full-year revenue of around $1.4 billion for 2025. This growth trajectory underscores the potential benefits of the acquisition for Boston Scientific as it seeks to broaden its market presence.
Under the terms of the acquisition agreement, Penumbra stockholders will have the option to receive either cash or shares of Boston Scientific common stock, with the total transaction consideration comprising approximately 73% in cash and 27% in stock. Boston Scientific plans to finance the cash portion of the transaction through existing cash reserves and new debt, with expectations of the acquisition being dilutive to adjusted earnings per share in the first year but becoming neutral or slightly accretive in the following years.
The acquisition is subject to Penumbra’s stockholder approval and other customary closing conditions, with an anticipated completion date in 2026. Boston Scientific will further discuss the details of the transaction in a conference call scheduled for January 16, 2026, at 8:00 a.m. ET.
This acquisition marks a strategic expansion for Boston Scientific, positioning the company to better address the growing challenges posed by cardiovascular diseases and to leverage Penumbra’s innovative technologies to improve patient outcomes globally.