Boston Scientific exceeds targets with strong performance in Q3 2016

Boston Scientific has announced its financial results for the third quarter of 2016, during which it exceeded its targets for the period.

The company generated sales of $2.11 billion (1.73 billion pounds), representing year-on-year growth of 11 percent on a reported basis or ten percent on an operational basis. This was above the previously-stated guidance range of $2.035 billion to $2.085 billion.

Its MedSurg, cardiovascular and rhythm management businesses all saw improved performances compared to the third quarter of 2015, with strong revenue growth reflected across all key regions.

Key highlights of the period included the acquisition of EndoChoice, the launch of the Resolution 360 Hemoclip and the attainment of key regulatory approvals for the Emblem MRI subcutaneous implantable defibrillator system and Lotus Edge valve system.

The company now expects revenue for the full year to be in the range of $8.335 billion to $8.385 billion, which would represent a growth rate of approximately 11 to 12 percent on a reported basis.

Mike Mahoney, chairman and chief executive officer of Boston Scientific, said: "Our differentiated products and services continue to make a meaningful impact for our customers and the patients they treat, as shown by very strong revenue growth in the third quarter and year to date."

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