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Boston Scientific 

“Market Cap $18.03 B As of May 2014

At a Glance
  • Industry: Medical Equipment & Supplies
  • Founded: 1979
  • Country: United States
  • CEO: Michael Mahoney
  • Website: www.bsci.com
  • Employees: 23,000
  • Sales: $7.14 B
  • Headquarters: Natick, Massachusetts
Forbes Lists

#1079 Global 2000

  • #1255 in Sales
  • #1226 in Assets
  • #613 in Market value
Profile

Boston Scientific Corp. develops, manufactures and markets medical devices that are used in a broad range of interventional medical specialties. The company’s products and technologies are used to diagnose or treat a wide range of medical conditions, including heart, digestive, pulmonary, vascular, urological, women’s health, and chronic pain conditions. It operates its business through four geographic reportable segments: United States; EMEA, consisting of Europe, the Middle East and Africa; Japan and Inter-Continental, consisting of Asia Pacific and the Americas operating segments. The reportable segments represent an aggregate of all operating divisions within each segment. The company was founded by John E. Abele and Pete Michael Nicholas on June 29, 1979 and is headquartered in Natick, MA.

“Boston Scientific History

Our journey of innovation began in 1979, when our revolutionary steerable catheters were first used in less-invasive procedures. Today, we continue our legacy of delivering meaningful innovation to meet patient needs around the world and deliver economic value to our customers.

Founding Story

In 1978 John Abele and Pete Nicholas were both looking for solutions. Abele wanted an investor for Medi-Tech, a company he joined in 1969 that was pioneering the field of interventional medicine, who would see his vision-to create new markets for less-invasive medicine and spread the word about Medi-Tech’s products. Nicholas wanted to build an enterprise. The result was Boston Scientific, founded on June 29, 1979, as a holding company to purchase Medi-Tech.

Abele and Nicholas founded Boston Scientific with a clear purpose-to benefit public health by bringing more accessible, lower-cost and lower-trauma medical options to patients, and to become a leader in all aspects of the industry. And they created a culture in which employees shared and believed in that purpose.

Innovations

In 1978, Medi-Tech developed a peripheral angioplasty balloon using polyethylene. Within two years, Boston Scientific’s peripheral polyethylene dilatation balloon was the industry standard. The company combined technology with physician input in developing its adult aortic valvuloplasty balloon, as well as the technique and patient selection criteria. Cited by the FDA as one of the nine most significant regulatory approvals of 1990, it was the company’s first major cardiology product.

The company’s hugely successful TAXUS® Express2™ paclitaxel-eluting coronary stent system-launched in the United States in 2004, highlights the company’s ability to not only produce industry-leading products but also build on those products.

As Boston Scientific continues to develop new products such as pulse generators and pain management systems, it is also refining its approach to innovation to ensure its products are targeted directly at patient and physician needs. Boston Scientific is also utilizing numerous partnerships to extend its innovation capabilities.”

*Information from Forbes.com and Bsci.com

**Video published on YouTube by “BostonScientificBSX