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M&A Strategy Strengthens Boston Scientific's Growth Prospects

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Key Takeaways

  • BSX's recent acquisitions enhanced CRM, Endoscopy, Interventional Cardiology, Oncology and EP portfolios.
  • BSX's acquisitions drove 420 bps of Q3 sales growth, lifting organic revenues to 15.3% above guidance.
  • Boston Scientific advanced its Neuromodulation reach with an agreement to acquire all of Nalu Medical.

Over the past several years, Boston Scientific (BSX - Free Report) has pursued a series of acquisitions in support of its growth strategy, both strengthening its core businesses and expanding into high-growth adjacent markets. The latest is the asset acquisition of Elutia’s BioEnvelope business, which is designed to prevent post-operative complications for devices such as pacemakers and defibrillators. As part of its core Cardiac Rhythm Management (“CRM”) portfolio, Boston Scientific plans to expand the reach of this technology to more global markets.

The acquisition of Anrei Medical complements the company’s Endoscopy portfolio, providing physicians with more treatment options to meet specific patient needs. Boston Scientific purchased the business for approximately $182 million in upfront cash, net of cash acquired.

In May, it closed another two transactions. SoniVie brought a highly distinguished ultrasound-based renal denervation therapy for treatment of hypertension into the Interventional Cardiology unit, while Intera Oncology expanded the company’s interventional oncology offerings with a therapy to treat liver-dominant metastases.

Boston Scientific’s acquisition of Bolt Medical aligns with the rapid expansion of intravascular lithotripsy (IVL) therapy, a minimally invasive approach for complex calcified arterial disease. Bolt Medical is developing a next-generation technology that is highly complementary to the Cardiovascular portfolio.  In January, the acquisition of Cortex enhanced the company’s Electrophysiology portfolio with a differentiated cardiac mapping offering to assist with complex atrial fibrillation (AF) cases.

Overall, in the third quarter of 2025, acquisitions contributed 420 basis points to sales, resulting in 15.3% organic revenue growth — above the company’s 12%-14% guidance range. In October, Boston Scientific entered into a definitive agreement to acquire 100% Nalu Medical, Inc., which will be integrated into the Neuromodulation division.

BSX Competitors’ M&A Activity

Teleflex (TFX - Free Report) substantially acquired all of the Vascular Intervention business of BIOTRONIK SE & Co. KG in July 2025. The deal adds a broad range of therapeutic products to Teleflex’s portfolio of interventional access products, strengthening its global presence in the cath lab. The business will also establish Teleflex's global footprint in the fast-growing peripheral intervention market and provide a channel for Teleflex products that currently have a peripheral indication.

GE Healthcare (GEHC - Free Report) has entered into an agreement to acquire Intelerad, a leading medical imaging software provider for the healthcare industry, for a purchase price of $2.3 billion paid in cash. This acquisition reflects GE HealthCare’s ongoing commitment to cloud-enabled and AI-powered solutions across care settings and furthers its aim to triple its offerings of cloud-enabled products by 2028.

BSX Price Performance, Valuation and Estimates

Year to date, Boston Scientific shares have risen 13.1% compared with the industry’s 4.9% growth.

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Boston Scientific’s valuation remains stretched, with a forward five-year Price-to-Earnings (P/E) ratio of 29.57 above its own median and the industry average. 

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Earnings estimates for Boston Scientific are showing an upward trend.

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BSX stock currently carries a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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