Company: Boston Scientific
Location: Natick, MA
CEO: J. Raymond Elliot
Sales: $8.19 billion
Boston Scientific was founded in June 1979 by John Abele and Pete Nicholas, and has since gone on to become is the world's second largest maker of heart devices. The company sells the Taxus Express stent and Cognis cardiac resynchronization therapy defibrillator. In July, the company said it expects net sales for the third quarter of 2010 of between $1.850 billion and $1.925 billion. The company will webcast its conference call discussing financial results for the third quarter Oct. 19, at 5:30 p.m. ET.
Last month, Boston Scientific moved to buy Sunnyvale, CA-based Asthmatx for $443.5 million. "I like where this is going, Boston Scientific," Brian Orelli of The Motley Fool said at the time. "I'm just not sure whether we can call it a turning point quite yet." More recently, the Fool noted "the company has been restructuring longer than many preschoolers have been alive. Cost cutting is good in the long run, but severance packages can be expensive."
It was reported recently that Ray Elliott had a total compensation $33.5 million--second highest in the state of Massachusetts among CEOs. He earned a $1.5 million bonus in 2009, even though he joined the company halfway through the year and the company posted a $1 billion loss, as this story notes.