Boston Scientific announced a definitive agreement to acquire Penumbra in a cash-and-stock transaction that values Penumbra at approximately $14.5 billion in enterprise value. Under the terms, Penumbra shareholders may elect to receive 73% of the consideration in cash and 27% in Boston Scientific shares, subject to proration. The deal expands Boston Scientific’s presence in mechanical thrombectomy and neurovascular segments, positioning the combined company to address a global cardiovascular market projected to grow at mid‐teens percentages annually. Boston Scientific expects first‐year adjusted EPS dilution of $0.06–$0.08, with neutrality by year two and accretion thereafter. The transaction, approved by both boards, is slated to close in 2026 upon customary regulatory and shareholder approvals.

Penumbra delivered preliminary fourth‐quarter revenue of $383.0 million to $384.8 million, representing growth of 21.4%–22.0% year‐over‐year (23.2%–23.8% excluding China). Full‐year 2025 revenue reached $1.401 billion to $1.403 billion, up 17.3%–17.5% (24.7%–24.9% excluding China). Gross margin for Q4 stood at 67.9%–68.1%, and 67.1% for the full year. Operating income was $56.9 million to $60.4 million in Q4 (14.8%–15.7% margin) and $186.9 million to $190.4 million for the year (13.3%–13.6% margin). The results reflect strong demand for Penumbra’s thrombectomy systems and ongoing efficiency improvements in manufacturing and distribution.

Halper Sadeh LLC has launched an investigation on behalf of Penumbra shareholders to determine whether the board secured optimal consideration in the sale to Boston Scientific. The firm alleges potential breaches of fiduciary duty and insufficient disclosure of material information, and may seek enhanced merger consideration or supplementary disclosures. Penumbra shareholders are being invited to participate in the probe, which is proceeding on a contingent‐fee basis and aims to ensure the transaction meets legal standards for fairness under federal securities laws.