Boston Scientific: A Timeline of Events

1960s:

* Late 1960s: Inventor Itzhak Bentov develops a steerable catheter at the request of radiologists at Boston’s Beth Israel Hospital.

1969:

* Bentov's steerable catheter enables physicians to navigate arteries in unprecedented ways.

* Young entrepreneur John Abele recognises the potential of Bentov's innovation and joins Bentov's company, Medi-Tech, located in a church basement in Belmont, Massachusetts.

1970:

* John Abele exercises his option to buy into Medi-Tech, marking the initial step towards the creation of Boston Scientific.

1970s:

* Throughout the decade, Abele fosters the growth of Medi-Tech in the emerging field of interventional medicine, focusing on treating diseases from inside the body using catheters.

1979:

* June 29: John Abele and dynamic businessman Peter “Pete” Nicholas officially found Boston Scientific Corporation in a small office in Watertown, Massachusetts. The company is established as a holding entity to acquire Medi-Tech and expand into the broader interventional medical device field. The co-founders share a vision of pioneering less invasive surgical approaches.

* Abele and Nicholas meet at their children’s football (soccer) game in Massachusetts.

Early 1980s:

* Boston Scientific's mission is established: “transforming lives through innovative medical solutions.”

* Boston Scientific begins a strategy of expanding its product offerings through strategic acquisitions.

1980:

* Less than a year after its founding, Boston Scientific acquires Kimray Medical, known for vena cava filters and cardiac output monitors, broadening its portfolio beyond catheters.

1981:

* Boston Scientific purchases Endo-Tech, later rebranded Microvasive, bringing in devices for gastrointestinal and pulmonary conditions. This acquisition forms the foundation of the company’s endoscopy division.

Mid-1980s:

* Boston Scientific establishes its first manufacturing plant in a renovated mill building in Watertown, Massachusetts.

1988:

* Boston Scientific establishes a presence in urology by acquiring Van-Tec, adding innovative urinary tract devices.

* December 31: The original Medi-Tech, Microvasive, and other units are fully merged into Boston Scientific, consolidating their product lines into one company.

Late 1980s:

* John Abele champions a culture of education and knowledge-sharing, personally training physicians on new Boston Scientific devices.

* Under Pete Nicholas's leadership as CEO, Boston Scientific experiences rapid growth. By 1987, annual revenues have grown significantly.

1992:

* May 19: Boston Scientific goes public with its initial public offering (IPO) on Wall Street, debuting at $17 per share. The IPO values the company at around $1.6 billion and provides capital for further expansion.

1990s:

* A decade of rapid expansion through strategic acquisitions across various medical divisions.

* 1995: Boston Scientific acquires SCIMED Life Systems, enhancing its capabilities in cardiovascular catheters and coronary angioplasty.

* Mid-1990s: Acquisition of Cardiovascular Imaging Systems, adding intravascular ultrasound technology.

* Acquisitions of EP Technologies (cardiac ablation tools) and Meadox Medical (artificial blood vessels).

* Acquisitions strengthening positions in urology (Vesica Medical) and oncology (Symbiosis).

* The endoscopy business, originating from the Microvasive acquisition, flourishes with new tools for minimally invasive GI procedures.

* Boston Scientific actively invests in physician training and education for new minimally invasive techniques like angioplasty and endoscopy.

1999:

* Pete Nicholas steps down as CEO but remains Chairman of the Board.

* Jim Tobin is appointed as the new CEO of Boston Scientific.

Early 2000s:

* Boston Scientific focuses heavily on research and development of next-generation technologies.

* Boston Scientific acquires Advanced Bionics, entering the neuromodulation field with spinal cord stimulation and cochlear implants.

2003:

* The TAXUS™ drug-eluting coronary stent receives regulatory approval in Europe and other markets.

2004:

* The TAXUS™ drug-eluting stent receives U.S. FDA approval. This breakthrough product propels Boston Scientific to the leading position in the interventional cardiology market.

* Boston Scientific's market valuation briefly surpasses that of Medtronic.

2006:

* Boston Scientific acquires Guidant Corporation, a major player in cardiac rhythm management (pacemakers and defibrillators), for approximately $27 billion in a highly competitive bidding war with Johnson & Johnson. This acquisition makes Boston Scientific a significant player in CRM but also brings challenges related to Guidant product recalls.

Mid-2000s:

* Boston Scientific faces challenges integrating Guidant, addressing product recalls, and managing debt. The company emphasises its core values of caring and high performance to restore trust.

2009:

* Ray Elliott is appointed as the new CEO to lead a turnaround effort.

2010:

* Boston Scientific divests its Neurovascular division to Stryker Corp for $1.5 billion to focus on core cardiovascular, rhythm, endoscopy, and urology businesses.

2011:

* Boston Scientific acquires Atritech, developer of the WATCHMAN™ Left Atrial Appendage Closure device.

* Acquisition of Sadra Medical, a startup with the Lotus™ transcatheter aortic valve replacement (TAVR) system.

* Ray Elliott retires as CEO.

2012:

* Michael F. “Mike” Mahoney is appointed CEO, tasked with rekindling growth and transforming the company culture.

* Boston Scientific acquires Cameron Health, gaining the EMBLEM™ Subcutaneous ICD (S-ICD).

2013:

* Boston Scientific acquires the electrophysiology business of C.R. Bard, expanding its presence in cardiac arrhythmia treatment.

Mid-2010s:

* Boston Scientific obtains regulatory approvals in Europe for the Lotus™ Valve System.

2015:

* FDA approval for the WATCHMAN™ Left Atrial Appendage Closure device.

* Boston Scientific acquires the Men’s Health and Prostate Health businesses of American Medical Systems (AMS), becoming a leader in urology.

* Acquisition of Xlumena, developer of the AXIOS™ Stent and Electrocautery Enhanced Delivery System for endoscopic ultrasound.

2016:

* Release of the LithoVue™ single-use ureteroscope for kidney stone removal.

* Pete Nicholas steps down as Chairman of the Board.

2017:

* U.S. FDA approval for Boston Scientific's Vercise™ Deep Brain Stimulation (DBS) system.

2018:

* Boston Scientific acquires nVision Medical, a startup developing a device for early ovarian cancer detection.

* Acquisition of NxThera, developer of the Rezūm™ Water Vapor Therapy for BPH.

* Acquisition of Claret Medical, adding the Sentinel™ cerebral protection device.

* Acquisition of Vertiflex, with a minimally invasive implant for lumbar spinal stenosis.

Late 2010s:

* Boston Scientific introduces the SYNERGY™ Megatron stent.

* Continued focus on cultural transformation under Mike Mahoney, emphasizing innovation, agility, and a “winning spirit.”

2019:

* FDA clearance for the EXALT™ Model D, the world’s first fully disposable single-use duodenoscope.

* Boston Scientific acquires BTG, expanding its interventional oncology portfolio with products like TheraSphere™ Y-90 radioembolization.

2020:

* Boston Scientific makes the decision to retire the Lotus™ TAVR valve platform.

* The COVID-19 pandemic impacts elective medical procedures globally.

2021:

* Acquisition of Farapulse, a leader in Pulsed Field Ablation (PFA) technology for treating cardiac arrhythmias.

* FDA clearance for the EXALT™ Model B single-use bronchoscope.

2022:

* Pete Nicholas, co-founder of Boston Scientific, passes away.

* Boston Scientific announces the acquisition of Apollo Endosurgery to expand its endoscopy business into obesity and GI closure technologies.

* Acquisition of Biometrics Limited (external neuromodulation wearable for overactive bladder).

2023:

* Completion of the acquisition of Apollo Endosurgery.

* Planned acquisition of Relievant Medsystems (Intracept procedure for chronic back pain).

Early 2025:

* Over half a million people worldwide have received a WATCHMAN™ implant.

* The EMBLEM™ S-ICD has saved numerous patients from sudden cardiac death.

* Boston Scientific’s Farapulse PFA system is in clinical trials in the U.S., with anticipation for its potential impact on atrial fibrillation treatment.

* Rezūm™ Water Vapor Therapy has treated tens of thousands of patients for BPH.

* Boston Scientific employs over 50,000 people worldwide and treats more than 44 million patients annually.

* Actively involved in trials for drug-device combinations and research into bioresorbable m