Boston Scientific is capping off a busy week with a major buyout, entering a deal worth about $14.5 billion to acquire California-based Penumbra.
The company started off the week presenting at the 2026 J.P. Morgan Healthcare Conference while also announcing Monday that it was buying out urology medtech Valencia Technologies for an undisclosed price.
Then Thursday, Jan.15, after a notable M&A lull at JPM for the larger life sciences industry, the medtech came to the fore with a major buyout deal for Penumbra to get hold of the latter company's medical device products.
This includes a broad range of devices including mechanical thrombectomy products to remove blood clots causing blockages as well as a vascular portfolio that aims to stop blood flow to control hemorrhaging and bleeding or to close blood vessels.
Penumbra's neurovascular offerings, meanwhile, include devices for stroke revascularization and neuro embolization.
“Penumbra is a well-established company with an experienced, high-performing team and this acquisition offers Boston Scientific an opportunity to enter new, fast-growing segments within the vascular space,” Mike Mahoney, chairman and CEO at Boston Scientific, said in a statement.
The financing of the deal breaks down like this: Boston will buy out Penumbra in a cash and stock mix that values Penumbra at $374 per share, reflecting an enterprise value of about $14.5 billion.
Penumbra stockholders can get paid in cash or 3.8721 shares of Boston Scientific common stock (valued at $374) per Penumbra share, with the stipulation that the total transaction consideration will be paid for by roughly 73% cash.
To fund the roughly $11 billion cash portion of the deal, Boston Scientific said it will delve into its own cash reserves while also taking on new debt.
Penumbra also Thursday released its preliminary, unaudited fourth-quarter figures, seeing sales hit between $383 million and $384.8 million, up around 21.4% to 22% year over year.
Full-year revenue, meanwhile, jumped more than 17% to $1.4 billion.
Boston Scientific’s shares were down nearly 4% premarket Thursday morning on the news.