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Post-Election Commentary—Boston Scientific

Boston ScientificBoston Scientific CFO Dan Brennan, speaking during the Stifel 2016 Healthcare Conference on November 15:

Boston Scientific

Boston Scientific CFO Dan Brennan, speaking during the Stifel 2016 Healthcare Conference on November 15:

Brennan

"I don't think we see anything specifically in terms of election results that makes us want to change our strategy. ACA, we've been very consistent in saying that we haven't seen a bump on the way up relative to ACA, so we don't attribute any of our results to any bump in ACA. I don't see any reason if ACA changes in any way that we see anything from a downside perspective.

In terms of the medtech tax, we've been very public about saying that it's about $80 million for us and I believe we've done a nice job of trying to reinvest that for growth, reinvest that for jobs and such. I think there's a case to be made for that to be permanently repealed in 2018 and beyond . . ."

In response to a question about the possibility of repatriation of oversease cash: 

"It really doesn't benefit us now because we have full access to our global cash through 2017. So if there were to be a holiday this year or next, we wouldn't have a cash buildup there to bring back.

In terms of our overall priorities for cash that we have, we do have to satisfy some of the liabilities on our balance sheet, but we have M&A and share buyback earmarked as well. If you think of it over the next three years--take '17, '18, '19--round figures, think $6 billion that we have in total. We should be able to put about $4 billion of that to work over that timeframe."

             

[Image courtesy of BOSTON SCIENTIFIC]

Take the Medical Innovation Tours during the BIOMEDevice San Jose Conference and Expo, December 7-8.
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