Max Stendahl, Biotech Reporter / Boston Business Journal – May 4, 2017
The last five years have seen a flurry of dealmaking in the medical device industry. And according to a new report, Marlborough-based Boston Scientific is responsible for more acquisitions than any other company since 2012 except one.
With 27,000 employees worldwide and around 2,500 here in Massachusetts, Boston Scientific (NYSE: BSX) is the largest medical device firm based in the state by headcount. It’s pulled off eight acquisitions since the beginning of 2012, according to the report by market research firm CB Insights. (The actual number appears to be 10; the report appears to omit one recent deal for an endoscopy firm and another in 2014 for a manufacturer.)
The only medical device company that was more active during this period was Boston Scientific’s rival, Ireland-based Medtronic (NYSE: MDT), which acquired a whopping 15 device firms.
For Boston Scientific, the string of acquisitions has coincided with the tenure of Mike Mahoney, who joined as president in October 2011 and was named CEO a year later. Boston Scientific has seen its stock price increase steadily with the 52-year-old Mahoney at the helm. He remains one of the highest-paid executives among public companies in the state, earning $35.7 million in total compensation plus value realized from past stock awards in 2016.