Boston Scientific to Buy Penumbra for $15 Billion in Cash, Stock — 2nd Update

By Colin Kellaher

Boston Scientific has agreed to buy thrombectomy company Penumbra for about $15 billion in cash and stock in a deal that bolsters its cardiovascular portfolio.

Boston Scientific on Thursday said the deal values Penumbra at $374 a share, a 19% premium to Wednesday's closing price of $313.43 for the Alameda, Calif., company.

The deal, which carries an enterprise value of around $14.5 billion minus Penumbra's roughly $470 million net cash and short-term investments, is slated to close later this year.

Boston Scientific said Penumbra stockholders can elect to receive $374 in cash or 3.8721 Boston Scientific shares for each share held, subject to proration so that the total consideration is about 73% cash and 27% stock.

Penumbra shares were recently up 14% at $356.99 in premarket trading, while shares of Boston Scientific fell 3.8% to $90.14.

The Marlborough, Mass., medical-technology company said it plans to finance the roughly $11 billion cash portion of the deal with cash on hand and new debt, and that it expects to issue about 41 million shares.

Boston Scientific said the acquisition offers an opportunity to enter new, fast-growing segments within the vascular space, noting that Penumbra's portfolio includes devices to treat conditions such as pulmonary embolism, stroke, deep vein thrombosis, acute limb ischemia, heart attack and aneurysms.

Penumbra's chairman and chief executive, Adam Elsesser, will join Boston Scientific's board and will elect to receive stock in exchange for his nearly 2% Penumbra stake, Boston Scientific said.

The company said it expects to maintain strong credit ratings, and that it will still have the flexibility to execute its capital-allocation priorities of further tuck-in deals, followed by opportunistic stock buybacks.

Boston Scientific earlier this week said it would buy Valencia Technologies, a medical-technology company focused on treatments for bladder dysfunction, for an undisclosed amount.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 15, 2026 08:29 ET (13:29 GMT)