Boston Scientific said it has entered into a definitive agreement to acquire Penumbra, one of the leading developers of innovative medical devices for the treatment of cardiovascular and neurovascular diseases. The transaction value is approximately $14.5bn, to be paid in a combination of cash and company shares.
Penumbra is being valued at $374 per share, representing a premium of around 19% to its market price at the time of the announcement.
Penumbra shareholders will be able to choose between receiving cash or Boston Scientific shares, with approximately 73% of the consideration paid in cash and 27% in stock.
The transaction is expected to close during 2026, subject to shareholder approval and receipt of all required regulatory clearances.
Penumbra specialises in devices for mechanical thrombectomy, including the removal of blood clots in cases of stroke, pulmonary embolism, deep vein thrombosis and other vascular conditions.
The company’s product portfolio includes technologies for neurovascular procedures, as well as tools for embolisation and haemorrhage control.
In 2025, Penumbra expects revenue of approximately $1.4bn, representing growth of around 17% year-on-year.
According to Boston Scientific CEO Mike Mahoney, the acquisition will strengthen the company’s cardiovascular and neurovascular portfolio, expand its presence in fast-growing market segments and broaden patient access to advanced technologies worldwide.
Following the announcement, Boston Scientific shares declined temporarily, a typical market reaction to large acquisitions due to anticipated short-term costs. However, analysts expect the merger to support long-term earnings growth and the company’s international expansion.
The deal is among the largest transactions in the medical technology sector in 2026 and reflects ongoing consolidation in the medical devices industry, as major players continue to expand their portfolios through the acquisition of innovative, specialised companies.
