Boston Scientific to Acquire Penumbra

January 15, 2026—Boston Scientific Corporation and Penumbra, Inc. announced that the companies have entered into a definitive agreement under which Boston Scientific will acquire Penumbra in a cash and stock transaction that values Penumbra at $374 per share, reflecting an enterprise value of approximately $14.5 billion.

Boston Scientific expects to finance the approximately $11 billion cash portion of the transaction consideration with a combination of cash on hand and new debt. The transaction is expected to be completed in 2026, subject to receipt of Penumbra’s stockholder approval and the satisfaction of other customary closing conditions.

According to the press release, Penumbra’s portfolio includes devices to treat pulmonary embolism, stroke, deep vein thrombosis, acute limb ischemia, heart attack, and aneurysms.

Penumbra’s mechanical thrombectomy products, designed for use in peripheral vascular procedures involving arterial, venous, and pulmonary vessels, include the Lightning Bolt and Lightning Flash computer-assisted vacuum thrombectomy (CAVT) systems. The company’s vascular portfolio also includes a minimally invasive peripheral embolization system. Neurovascular offerings from Penumbra include devices for access, stroke revascularization, and neuroembolization.

Penumbra continues to advance its technologies with a multiyear research and development plan and ongoing clinical programs, noted the press release.

“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,” stated Mike Mahoney, Chairman and Chief Executive Officer, Boston Scientific, in the press release. “I’m thrilled to combine the talents and shared values of our teams—including welcoming Penumbra’s chairman and Chief Executive Officer, Adam Elsesser, to our board of directors upon close. The addition of Penumbra can expand access for these novel technologies to more patients and customers around the world, further enhancing our revenue and margins over time with proven offerings that have a history of growth and innovation.”

Penumbra’s Adam Elsesser added, “Our decades-long development of therapies for challenging medical conditions has focused on deep innovation for complex diseases so that we can offer physicians novel solutions to transform patient care. I am grateful for the amazing people who have contributed to this work and look forward to uniting our efforts and shared values as we come together with Boston Scientific.”