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Boston Scientific and Penumbra: $14.5B Medtech Consolidation Analysis
Boston Scientific to buy Penumbra for $14.5B, paying $374 per share to expand into thrombectomy and neurovascular
What happened
Boston Scientific ($BSX) agreed to acquire Penumbra ($PEN) in a cash-and-stock deal valued at about $14.5B. The offer values Penumbra at $374 per share (about a 19% premium), and the deal is expected to close later in 2026. Penumbra brings clot-removal and vascular devices spanning stroke, pulmonary embolism, and other vascular conditions, with 2025 revenue around $1.4B. Market reaction on the headline: $PEN popped while $BSX sold off on deal size and near-term…
The skinny
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