Boston Scientific Acquires Penumbra in $14.5 Billion Deal

Boston Scientific is set to acquire Penumbra in a significant deal valued at approximately $14.5 billion. The announcement came on Thursday, marking one of the notable medtech acquisitions anticipated for 2026.

Overview of the Acquisition

This acquisition aims to enhance Boston Scientific’s portfolio in the vascular space. Penumbra is known for its innovative heart devices designed to eliminate clots from blood vessels. These devices are crucial for treating conditions such as:

• Pulmonary embolism
• Stroke
• Deep vein thrombosis

Additionally, Penumbra produces an embolization system intended to control bleeding by halting blood flow.

Strategic Growth Opportunities

Boston Scientific’s CEO, Mike Mahoney, highlighted the strategic importance of this acquisition. He emphasized the opportunity to enter fast-growing segments in the vascular market. Analyst Ryan Zimmerman from BTIG noted that acquiring Penumbra would allow Boston Scientific to expand into new markets focused on thrombectomy and embolization.

Financial Details

Boston Scientific plans to pay $374 per share, combining cash and stock, which amounts to a valuation approximately 19% above Penumbra’s share price as of Wednesday. Analysts predict Penumbra will generate around $1.4 billion in revenue for 2025, representing a year-over-year increase of over 17%.

Market Context

The acquisition of Penumbra aligns with industry trends. RBC Capital Markets analyst Shagun Singh pointed out that Penumbra has long been viewed as a potential acquisition target. The previous acquisition of Inari Medical by Stryker for $4.9 billion has made Penumbra a more attractive candidate for acquisition.

Closing and Future Outlook

The deal, pending shareholder approval and customary closing conditions, is expected to finalize in 2026. This initiative not only expands Boston Scientific’s reach within the cardiovascular device market but also strengthens its capabilities in addressing critical medical conditions associated with blood flow disorders.