Boston Scientific today announced a definitive agreement to acquire thrombectomy specialist Penumbra in a cash-and-stock transaction valued at $14.5 billion. Under the terms, Penumbra shareholders will receive approximately 73 percent cash and 27 percent equity in the combined company. Penumbra’s preliminary Q4 2025 results showed revenue growth in the 21–24 percent range, driven by strong adoption of its aspiration and mechanical thrombectomy platforms. Boston Scientific expects the deal to be dilutive by approximately 6–8 cents per share in the first full year post-close, with accretion moving toward break-even in year two and positive thereafter. Integration is projected to deliver $200 million in run-rate synergies by 2028, leveraging Boston Scientific’s global sales infrastructure and R&D capabilities. The transaction is on track to close in the first half of 2026, pending regulatory approvals.

On January 14, Citigroup upgraded its outlook on Boston Scientific to a Buy, citing accelerating margin expansion driven by the electrophysiology and WATCHMAN franchises. The firm highlighted a shift toward higher-margin products, which has supported a 150 basis-point improvement in adjusted operating margin over the past year. At the recent J.P. Morgan Healthcare Conference, management detailed progress on capital expenditure recovery at hospital customers and continued procedural growth normalization. In parallel, Boston Scientific announced a definitive agreement to acquire Valencia Technologies, developer of the eCoin System for overactive bladder. Valencia generated approximately $100 million in 2025 revenue and addresses a patient population of some 30 million U.S. adults. The acquisition is expected to be immediately accretive to adjusted earnings per share and further diversify Boston Scientific’s urology portfolio.