An increase in volume procedures in 1Q22 led to Boston Scientific topping Wall Street expectations. The Marlborough, MA-based company known for its massive M&A streaks, reported profits of $97 million, or 7 cents per share, on sales of just over $3 billion.
The company raised its outlook for net sales growth in 2022. The firm said it expects to see a sales increase between 7% and 9%. Boston Scientific saw its shares rise 3.3% premarket.
“Our growth this quarter was fueled by strong execution from our global team, our innovative portfolio and improved procedure volume,” said Mike Mahoney, chairman and chief executive officer, Boston Scientific. “We are pleased with our first quarter performance and outlook for the full year, despite the impact of macroeconomic headwinds, and we look forward to bringing meaningful innovation to customers and the patients we serve together.”
The company has had a string of success over the last few months.
In February, Boston Scientific wrapped up its $1.75 billion acquisition of Baylis Medical Company. The Austin, TX-based company has developed advanced transseptal access solutions as well as guidewires, sheaths and dilators used to support catheter-based left-heart procedures.
The company also announced real world data from the SURPASS 45-day analysis of more than 16,000 patients with the Watchman FLX Left Atrial Appendage Closure Device from the National Cardiovascular Data (NCDR) Registry Left Atrial Appendage Occlusion (LAAO) Registry, as well as final one-year results from the FLXibility post-approval study with the device in Europe, both demonstrating low rates of adverse events and high rates of LAA closure in everyday clinical practice.