Boston Scientific highlights strategy for ongoing growth

Boston Scientific has provided an overview of its business and long-term growth strategies during a meeting with the investment community in New York.

Currently, the company's products reach more than 24 million patients around the world annually, and address global markets worth more than $40 billion (30.95 billion pounds). The company seeks to increase this to more than $50 billion by 2020.

This will be achieved through the launch of new products within the company's cardiovascular, rhythm management and MedSurg segments, as well as expansion into high-growth adjacent markets that are expected to address an incremental $13 billion in market opportunity by 2020.

These efforts will align with the firm's intention of diversifying its portfolio away from low-growth markets, and to achieve a compound annual growth rate for organic revenue of six to eight percent between 2018 and 2020.

Dan Brennan, executive vice-president and chief financial officer of Boston Scientific, said: "We are enhancing our long-term outlook by diversifying into large high-growth markets with a differentiated portfolio and capabilities, as well as a focus on expanding outside the US in both developed and emerging markets."

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