LIVE NOW: BOSTON SCIENTIFIC ANNOUNCES $15 BILLION ACQUISITION OF PENUMBRA
In a move that drastically reshapes the medical device landscape, Boston Scientific Corporation (NYSE: BSX) officially announced a definitive agreement to acquire Penumbra, Inc. (NYSE: PEN) on January 15, 2026. The deal, valued at approximately $14.5 to $15 billion, represents one of the largest med-tech acquisitions in recent years and cements Boston Scientific’s dominance in the high-growth cardiovascular and neurovascular markets.
Under the terms of the agreement, Boston Scientific will pay $374.00 per share for Penumbra, representing a roughly 19% premium over Penumbra’s closing price on Wednesday. The transaction is structured as a mix of 73% cash and 27% stock, providing Penumbra shareholders with the option to choose their preferred form of payment, subject to proration.
Strategic Rationale: A Cardiovascular Powerhouse
The acquisition is a strategic masterstroke for Boston Scientific, allowing it to integrate Penumbra’s market-leading Computer-Assisted Vacuum Thrombectomy (CAVT™) technology into its existing peripheral interventions portfolio.
Key Portfolio Additions
- Vascular Thrombectomy: Penumbra’s Lightning Bolt® and Lightning Flash® systems are the gold standard for removing blood clots in arterial, venous, and pulmonary vessels.
- Neurovascular Solutions: The deal gives Boston Scientific a major foothold in the stroke treatment market, including innovative systems for ischemic stroke revascularization and neuro-embolization.
- Embolization: Penumbra’s emerging middle meningeal artery (MMA) embolization franchise is widely considered a significant future growth driver.
“Penumbra is a world-class company with a high-performing team. This acquisition allows us to enter fast-growing segments within the vascular and neurovascular space, particularly in mechanical thrombectomy where Penumbra is the undisputed leader,” said Mike Mahoney, Chairman and CEO of Boston Scientific.
Financial Impact and Market Reaction
The financial community has reacted with a mix of excitement for the long-term growth and caution regarding the immediate debt load.
The Numbers
- Enterprise Value: Approximately $14.5 Billion.
- Funding: Boston Scientific plans to finance the $11 billion cash portion through a combination of cash on hand and new debt.
- Earnings Impact: The deal is expected to be $0.06 to $0.08 dilutive to adjusted earnings per share (EPS) in the first full year, becoming neutral to slightly accretive in the second year, and highly accretive thereafter.
- Penumbra Performance: The news comes alongside Penumbra’s preliminary Q4 2025 results, which showed a revenue growth of over 21%, reaching approximately $384 million.
Market Movement
Following the announcement on the morning of January 15, Penumbra (PEN) shares surged by over 14% in pre-market trading, nearing the $360 mark. Conversely, Boston Scientific (BSX) shares saw a slight dip of roughly 3-5%, as investors processed the financing requirements and the short-term earnings dilution.
Industry Outlook: The Future of Stroke and Clot Treatment
The merger comes at a time of intensifying competition in the thrombectomy market. With major players like Medtronic, Stryker, and Inari Medical vying for market share, Boston Scientific’s acquisition of Penumbra’s superior aspiration-based technology provides a significant competitive moat.
The global mechanical thrombectomy market is projected to reach over $4 billion by 2035, driven by an aging population and the increasing prevalence of stroke and venous thromboembolism. By acquiring Penumbra, Boston Scientific is not just buying a company; it is buying the future of minimally invasive vascular intervention.
Leadership and Next Steps
The deal is expected to close in late 2026, pending approval from Penumbra stockholders and customary regulatory hurdles. In a sign of strong leadership continuity, Penumbra’s Chairman and CEO, Adam Elsesser, is slated to join Boston Scientific’s board of directors upon the deal’s completion.
Frequently Asked Questions: Boston Scientific’s $15 Billion Acquisition of Penumbra
Following the landmark announcement on January 15, 2026, investors, healthcare professionals, and employees have raised several questions regarding the integration of these two med-tech giants. Below are the most frequently asked questions concerning the deal.
1. What are the specific terms of the buyout?
| Feature | Details |
| Purchase Price | $374.00 Per Share |
| Total Value | ~$15 Billion |
| Premium | ~19% over Jan 14 close |
| Financing | Cash on hand + New debt |
| Primary Markets | Stroke, VTE, and Embolization |
Boston Scientific has agreed to acquire Penumbra for $374 per share. This represents an enterprise value of approximately $14.5 to $15 billion. The deal is structured to be approximately 73% cash and 27% stock. Penumbra stockholders can elect to receive the $374 in cash or 3.8721 shares of Boston Scientific common stock for each share they own, subject to proration.
