Boston Scientific to Acquire Penumbra for $14.5B

Global medical technology company that develops and manufactures specialized devices across its MedSurg and Cardiovascular segments
Portfolio addresses gastrointestinal, urological, neurological, chronic pain, cardiac, and vascular conditions
Founded in 1979 and headquartered in Marlborough, MA

None specifically listed

Global medical device company specializing in the design and manufacture of innovative systems for mechanical thrombectomy, embolization, and neurosurgery
Product portfolio includes advanced aspiration pumps, catheters, and detachable coils used to treat stroke, aneurysms, pulmonary embolism, and peripheral arterial disease
Founded in 2004 and headquartered in Alameda, CA

Perella Weinberg Partners (financial advisor)

$14.5 billion / Cash and stock (approximately 73% cash, 27% stock)

Boston Scientific is effectively absorbing its largest competitor in the aspiration space, strengthening its position in mechanical thrombectomy and vascular intervention
The transaction creates a “full-suite” vascular platform combining Penumbra’s acute stroke and pulmonary embolism aspiration systems with Boston Scientific’s legacy rheolytic and mechanical solutions for chronic limb ischemia
Expands Boston Scientific into fast-growing neurovascular and interventional vascular segments
The transaction is expected to be $0.06–$0.08 dilutive to adjusted EPS in the first full year post-close, neutral to slightly accretive in year two, and more accretive thereafter
Penumbra expects FY2025 revenue of approximately $1.4 billion, representing ~17–18% growth year-over-year

Penumbra stockholders may elect to receive $374 per share in either cash or a fixed amount of Boston Scientific stock, subject to proration
Final consideration mix structured at approximately 73% cash and 27% stock
Boston Scientific expects to finance the ~$11 billion cash portion with a combination of cash on hand and new debt