9. Boston Scientific

Boston Scientific HQ
(Boston Scientific)

Boston Scientific
Headquarters: Marlborough, Massachusetts
2024 projected sales: $14.4 billion 
2024 projected R&D spend: $1.38 billion
2017 sales: $9.0 billion
2017 R&D spend: $974 million

While the vast majority of Evaluate’s top-10 list are predicted to hold their relative rankings through 2024, Boston Scientific joins BD as the only two to move forward, displacing General Electric at spot number nine with its healthy appetite for M&A deals.

However, Boston Scientific’s trajectory could dramatically shift with its most recent proposal: a $4.2 billion offer to buy out BTG and its oncology treatment franchise, announced in late November after Evaluate made its calculations.  

The cash-based acquisition could transform Boston Scientific’s cancer-focused offerings, from one primarily offering delivery and diagnostic tools into a $500 million interventional therapy business. The company also expects to add more than $400 million in revenue among its peripheral cardiovascular treatment segments.

RELATED: FDA OKs Boston Sci’s Eluvia drug-eluting stent for PAD

In addition, BTG’s interventional products nicely complement Boston Scientific’s current portfolio, providing entries into over a billion dollars in new segments, alongside projected synergies totaling over $175 million over the next three years.

Absorbing BTG would also give Boston Scientific new pipeline opportunities, including radiotherapies under development for lung and breast cancer, as well as venous device interventions for pulmonary embolisms.

By 2024, Evaluate had predicted Boston Scientific’s sales to grow by 6.8% annually, ultimately posting about $14.4 billion. But to close the gap with Roche and its diagnostics powerhouse, the next highest on the list, the company would have to generate another $2 billion in sales.

RELATED: Boston Scientific’s surgical arm helps fuel 52% jump in third-quarter net income compared to 2017

But Boston Scientific seems to be acting with that goal in mind, with 2018 seeing several complementary and tuck-in acquisitions across its business segments.

In July, it spent $220 million to buy Claret Medical and its neurovascular safety net device, designed to catch debris in the bloodstream knocked loose during transcatheter aortic valve replacement procedures, stopping it before causing damage or strokes in the brain.

Boston Scientific committed to another $50 million in milestone payments based on future product reimbursements, pointing to its potential in other left heart procedures such as mitral valve repair and replacement, atrial appendage closure and pulmonary vein ablation for treating atrial fibrillation. The adjunctive device will also slot in next to the other acquisitions made in its structural and heart rhythm segments over the past 18 months.

RELATED: Boston Scientific acquires remainder of vein stent maker Veniti in $160M deal

In a similar vein, Boston Scientific also inked a $50 million deal to acquire Securus Medical, makers of a catheter-based temperature probe to closely monitor the safety of cardiac ablation procedures. It also bought out Cryterion Medical, paying $202 million for its balloon-based cryoablation platform—adding a cooling-energy device alongside its heat-based radiofrequency devices.

One of its larger deals included the makers of a hydrogel implant that helps isolate the prostate gland from surrounding tissues during cancer radiotherapy. Boston Scientific paid $500 million upfront with up to $100 million in milestones for Augmenix, which aims to reduce unintentional radiation exposures to organs such as the rectum, sparing patients from the more common side effects of treatment.

9. Boston Scientific

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