Boston Scientific Falls a Bit Short
Boston Scientific had a good year in 2019. The Marlborough, MA-based company closed on some significant acquisitions and was able to receive FDA approval for the Lotus Edge transcatheter aortic replacement valve. However, Boston Scientific fell a little bit short, according to preliminary earnings presented at the 38th annual J.P. Morgan Healthcare Conference.
During the conference, Michael Mahoney, Boston Scientific’s CEO, said “Our 4th quarter preliminary organic growth rate of 7.3% is a good result but approximately $30 million below the midpoint of our 4th quarter guidance range which is eight to nine.”
Mahoney noted the primary cause of the 4Q19 shortfall vs. the guidance that Boston Scientific provided was primarily in its rhythm management business, where the firm saw some slowdown in its high voltage as well as the EP Business in the 4th quarter.
Despite the miss, Mahoney said Boston Scientific was gearing up for its next chapter.
"The next three years of Boston Scientific we believe will be more exciting than the past three in terms of innovation, financial performance and hopefully shareholder returns beyond that,” Mahoney said.