Interested in our Q4 2023 financial results?

Today, Boston Scientific shared its financial results for the fourth quarter of 2023.

Overall, we generated net sales of $3.725 billion during the fourth quarter of 2023, growing 13.6 percent on an organic basis¹ compared to the prior year period.

We also achieved net sales growth in each of our reportable segments, with 8.9 percent organic growth¹ in MedSurg and 13.3 percent organic growth¹ in Cardiovascular compared to the prior year period.

For the full year 2023, Boston Scientific generated net sales of $14.240 billion, growing 12.3 percent on an organic basis¹.

“I am grateful to our global team, and proud of our exceptional results in 2023,” says Mike Mahoney, chairman and chief executive officer, Boston Scientific. “We are excited about our future and long-range plans as we deliver on our mission to transform patient lives.”

Additional highlights:

• We received U.S. Food and Drug Administration (FDA) approval of the FARAPULSE™ Pulsed Field Ablation (PFA) System for the isolation of pulmonary veins in the treatment of drug-resistant, recurrent, symptomatic and paroxysmal (i.e., intermittent) atrial fibrillation (AF).
   
• Enrollment commenced in the LAAOS-4 global research trial, which includes both the WATCHMAN FLX™ Left Atrial Appendage Closure (LAAC) Device and WATCHMAN FLX Pro LAAC Device and explores if patients with non-valvular atrial fibrillation at highest risk for stroke benefit from a combined LAAC and oral anticoagulation therapy.
   
• We received FDA approval for the TENACIO™ Pump, a new pump component for the AMS 700™ Inflatable Penile Prostheses, a treatment option for patients with erectile dysfunction.
   
• We announced an agreement to acquire Axonics, Inc., a publicly traded medical technology company that offers differentiated devices to treat urinary and bowel dysfunction, subject to customary closing conditions.

For the full Boston Scientific earnings announcement and more business highlights from the fourth quarter of 2023, see the press release. 

 

^{About Boston Scientific}

^{Boston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of health care. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and connect on LinkedIn and X, formerly Twitter.}

_{Cautionary Statement Regarding Forward-Looking Statements}

_{This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “may,” “intend” and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our financial performance; our business plans and product performance, acquisitions, and new and anticipated product approvals and launches. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.}

_{Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions; geopolitical events; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this release.}

_{Use of Non-GAAP Financial Information}

_{This press release contains non-GAAP measures in talking about the company’s performance. The reconciliations of those non-GAAP financial measures to their most comparable GAAP measures is included below.}

_{Net sales for the fourth quarter by business:}

					Increase/(Decrease)
		Three Months Ended December 31,			Reported Basis		Impact of Foreign Currency Fluctuations		Operational Basis		Impact of Recent Acquisitions / Divestitures		Organic Basis
(in millions)		2023	2022
	Endoscopy	$            645	$            571		12.9  %		(0.7) %		12.2  %		(1.4) %		10.8  %
	Urology	527	477		10.5  %		(0.5) %		9.9  %		—  %		9.9  %
	Neuromodulation	269	249		8.0  %		(0.5) %		7.5  %		(4.9) %		2.6  %
	MedSurg	1,441	1,297		11.1 %		(0.6)       %		10.5 %		(1.6) %		8.9 %
	Cardiology	1,751	1,529		14.5  %		(0.3) %		14.2  %		—  %		14.2  %
	Peripheral Interventions	533	476		12.1  %		0.1  %		12.2  %		(2.1) %		10.2  %
	Cardiovascular	2,285	2,005		13.9 %		(0.2)       %		13.8 %		(0.5)       %		13.3 %
		3,725	3,302		12.8 %		(0.4)       %		12.5 %		(0.9)       %		11.6 %
	Other2	—	(60)		(100.0) %		—  %		(100.0) %		—  %		(100.0) %
Net Sales		$       3,725	$       3,242		14.9 %		(0.4)       %		14.5 %		(0.9)       %		13.6 %

 

1  Organic net sales growth is a non-U.S. generally accepted accounting principles (non-GAAP) measure that excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales.

_{Net sales for full year 2023 by business:}

					Increase/(Decrease)
		Year Ended December 31,			Reported Basis		Impact of Foreign Currency Fluctuations		Operational Basis		Impact of Recent Acquisitions / Divestitures		Organic Basis
(in millions)		2023	2022
	Endoscopy	$        2,482	$        2,221		11.7  %		0.6  %		12.3  %		(1.2) %		11.1  %
	Urology	1,964	1,773		10.8  %		0.4  %		11.1  %		—  %		11.1  %
	Neuromodulation	976	917		6.4  %		0.3  %		6.7  %		(1.3) %		5.3  %
	MedSurg	5,422	4,911		10.4 %		0.4 %		10.8 %		(0.8)       %		10.0 %
	Cardiology	6,709	5,932		13.1  %		0.9  %		14.0  %		(0.5) %		13.6  %
	Peripheral Interventions	2,110	1,899		11.1  %		1.4  %		12.6  %		(1.6) %		10.9  %
	Cardiovascular	8,819	7,831		12.6 %		1.1 %		13.7 %		(0.7)       %		12.9 %
		14,240	12,742		11.8 %		0.8 %		12.6 %		(0.8)       %		11.8 %
	Other2	—	(60)		(100.0) %		—  %		(100.0) %		—  %		(100.0) %
Net Sales		$     14,240	$     12,682		12.3 %		0.8 %		13.1 %		(0.8)       %		12.3 %

² In 2022, reflects unplanned reserves established in connection with the activation of the Italian government payback provision, aimed at rationalizing public spending and requiring medical device companies to pay back a portion of spend exceeding allocated healthcare budgets. In 2023, these sales reserves were allocated to reportable segments.