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Boston Scientific (BSX) and Scivita Medical Expand Partnership
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Boston Scientific, Inc. (BSX - Free Report) and Scivita Medical Technology Co., Ltd. (Scivita Medical) recently teamed up to sign an expanded strategic cooperation arrangement. The expanded arrangement will help bring Scivita Medical products to more hospitals and patients throughout China and other global geographies.
The latest development also comes as a boost for Boston Scientific’s Endoscopy business within the MedSurg segment.
About Scivita Medical
The medical device company Scivita Medical provides minimally invasive diagnosis and treatment solutions and focuses on the research, development and commercialization of medical endoscopes and related products. With ‘Globalization’ as its core strategy, the company has established research and development (R&D) centers in China and Japan. It is also advancing this goal through strategic cooperation with Chinese enterprises and multinational companies like Boston Scientific.
With solid in-house R&D capabilities, Scivita Medical has established a unique technology platform built upon five synergistic core technologies. The company has developed a comprehensive portfolio of endoscope products and therapeutic products covering all types of endoscope procedures conducted by various clinical departments to address diverse medical needs.
More on the News
The introduction of iterative endoscopic technology has positively transformed the field of endoscopy, making it an interventional tool that combines diagnosis and treatment. Single-use video scopes are considered a solution to cross-infection in traditional endoscopy, making them a promising solution for the future medical endoscope market. According to a Frost & Sullivan analysis cited by Scivita Medical, the global market value of single-use video scope was $0.5 billion in 2020 and is estimated to increase to $9.2 billion in 2030.
Image Source: Zacks Investment Research
Under the agreement, Boston Scientific and Scivita Medical are set to expand their collaboration for strategic co-development and global distribution initiatives. These activities may include collaboration on the co-development of future endoscopic devices and global distribution opportunities for Scivita Medical’s single-use endoscope and imaging devices. The senior vice president and president at BSX’s Endoscopy division expressed excitement about furthering the relationship with Scivita Medical, which will help provide physicians with more device options across different regions globally.
Industry Prospects
Per a research report, the global endoscopy device market was valued at $28.1 billion in 2022 and is expected to witness a CAGR of 4.6% by 2032.
Notable Highlights of the MedSurg Segment
The Endoscopy business continues to experience robust worldwide demand for its broad range of gastrointestinal and pulmonary treatment options. Particularly, the company is gaining market share with its biliary franchise led by the AXIOS Stent and Delivery System and the hemostasis, single-use imaging and metal stents franchises. In the fourth quarter of 2023, Endoscopy organic sales grew an impressive 11% compared to the fourth quarter of 2022, mainly due to double-digit increases in the sales of AXIOS and single-use scopes.
In January 2024, BSX entered into a definitive agreement to acquire Axonics, Inc., which will expand its urology portfolio with differentiated technologies to treat urinary and bowel dysfunction. The addition has enabled the company’s entry into sacral neuromodulation, a high-growth adjacency with opportunities to expand access to care for patients.
In November 2023, Boston Scientific also acquired Relievant Medsystems, Inc., strengthening its position in advanced interventional chronic pain by offering physicians the broadest selection of evidence-based treatment options that address multiple pain targets and change patients' lives.
Price Performance
In the past six months, Boston Scientific shares have risen 29.9% compared with the industry’s growth of 11.3%.
Zacks Rank and Key Picks
Boston Scientific currently carries a Zacks Rank #3 (Hold).
Cardinal Health’s stock has surged 50.9% in the past year. Earnings estimates for Cardinal Health have risen from $7.28 to $7.29 in fiscal 2024 and from $8.02 to $8.04 in fiscal 2025 in the past 30 days.
CAH’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 15.6%. In the last reported quarter, it posted an earnings surprise of 16.67%.
Estimates for Stryker’s 2024 earnings per share have remained constant at $11.86 in the past 30 days. Shares of the company have moved 28.5% upward in the past year compared with the industry’s rise of 5.2%.
SYK’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 5.09%. In the last reported quarter, it delivered an average earnings surprise of 5.81%.
Estimates for DaVita’s 2024 earnings per share have moved up from $8.97 to $9.23 in the past 30 days. Shares of the company have surged 74.4% in the past year compared with the industry’s 22% rise.
DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 35.57%. In the last reported quarter, it delivered an average earnings surprise of 22.22%.
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Boston Scientific (BSX) and Scivita Medical Expand Partnership
Boston Scientific, Inc. (BSX - Free Report) and Scivita Medical Technology Co., Ltd. (Scivita Medical) recently teamed up to sign an expanded strategic cooperation arrangement. The expanded arrangement will help bring Scivita Medical products to more hospitals and patients throughout China and other global geographies.
The latest development also comes as a boost for Boston Scientific’s Endoscopy business within the MedSurg segment.
About Scivita Medical
The medical device company Scivita Medical provides minimally invasive diagnosis and treatment solutions and focuses on the research, development and commercialization of medical endoscopes and related products. With ‘Globalization’ as its core strategy, the company has established research and development (R&D) centers in China and Japan. It is also advancing this goal through strategic cooperation with Chinese enterprises and multinational companies like Boston Scientific.
With solid in-house R&D capabilities, Scivita Medical has established a unique technology platform built upon five synergistic core technologies. The company has developed a comprehensive portfolio of endoscope products and therapeutic products covering all types of endoscope procedures conducted by various clinical departments to address diverse medical needs.
More on the News
The introduction of iterative endoscopic technology has positively transformed the field of endoscopy, making it an interventional tool that combines diagnosis and treatment. Single-use video scopes are considered a solution to cross-infection in traditional endoscopy, making them a promising solution for the future medical endoscope market. According to a Frost & Sullivan analysis cited by Scivita Medical, the global market value of single-use video scope was $0.5 billion in 2020 and is estimated to increase to $9.2 billion in 2030.
Image Source: Zacks Investment Research
Under the agreement, Boston Scientific and Scivita Medical are set to expand their collaboration for strategic co-development and global distribution initiatives. These activities may include collaboration on the co-development of future endoscopic devices and global distribution opportunities for Scivita Medical’s single-use endoscope and imaging devices. The senior vice president and president at BSX’s Endoscopy division expressed excitement about furthering the relationship with Scivita Medical, which will help provide physicians with more device options across different regions globally.
Industry Prospects
Per a research report, the global endoscopy device market was valued at $28.1 billion in 2022 and is expected to witness a CAGR of 4.6% by 2032.
Notable Highlights of the MedSurg Segment
The Endoscopy business continues to experience robust worldwide demand for its broad range of gastrointestinal and pulmonary treatment options. Particularly, the company is gaining market share with its biliary franchise led by the AXIOS Stent and Delivery System and the hemostasis, single-use imaging and metal stents franchises. In the fourth quarter of 2023, Endoscopy organic sales grew an impressive 11% compared to the fourth quarter of 2022, mainly due to double-digit increases in the sales of AXIOS and single-use scopes.
In January 2024, BSX entered into a definitive agreement to acquire Axonics, Inc., which will expand its urology portfolio with differentiated technologies to treat urinary and bowel dysfunction. The addition has enabled the company’s entry into sacral neuromodulation, a high-growth adjacency with opportunities to expand access to care for patients.
In November 2023, Boston Scientific also acquired Relievant Medsystems, Inc., strengthening its position in advanced interventional chronic pain by offering physicians the broadest selection of evidence-based treatment options that address multiple pain targets and change patients' lives.
Price Performance
In the past six months, Boston Scientific shares have risen 29.9% compared with the industry’s growth of 11.3%.
Zacks Rank and Key Picks
Boston Scientific currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Cardinal Health (CAH - Free Report) , Stryker (SYK - Free Report) and DaVita (DVA - Free Report) . While Cardinal Health and Stryker each carry a Zacks Rank #2 (Buy), DaVita sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cardinal Health’s stock has surged 50.9% in the past year. Earnings estimates for Cardinal Health have risen from $7.28 to $7.29 in fiscal 2024 and from $8.02 to $8.04 in fiscal 2025 in the past 30 days.
CAH’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 15.6%. In the last reported quarter, it posted an earnings surprise of 16.67%.
Estimates for Stryker’s 2024 earnings per share have remained constant at $11.86 in the past 30 days. Shares of the company have moved 28.5% upward in the past year compared with the industry’s rise of 5.2%.
SYK’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 5.09%. In the last reported quarter, it delivered an average earnings surprise of 5.81%.
Estimates for DaVita’s 2024 earnings per share have moved up from $8.97 to $9.23 in the past 30 days. Shares of the company have surged 74.4% in the past year compared with the industry’s 22% rise.
DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 35.57%. In the last reported quarter, it delivered an average earnings surprise of 22.22%.