Boston Scientific has agreed to acquire Penumbra in a deal worth around $14.5bn, a move that will expand the medtech giant’s offerings in ‘fast-growing segments’ within the vascular care space.
Under the deal, Boston will inherit Penumbra products, including the US company’s Lightning Bolt and Lightning Flash computer-assisted vacuum thrombectomy (CAVT) systems for removing blood clots in the arterial, venous and pulmonary vessels. The systems received US Food and Drug Administration (FDA) clearance in 2023 and 2024, respectively.
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The products will sit alongside AngioJet, the main thrombectomy offering within Boston’s peripheral intervention business. Boston inherited the system following its acquisition of Bayer’s interventional division in 2014.
In Boston’s Q3 2025 financials, its peripheral intervention business achieved revenues of $702m, denoting a 16.7% increase from $602m in Q3 2024.
The acquisition of Penumbra, which also offers peripheral embolisation and neurovascular solutions, is expected to close in 2026.
Penumbra’s stock soared by more than 11% at market open following the deal’s announcement on 15 January to $350.80 per share, up from $313.43 at market close on 14 January. Penumbra has a market cap of $13.78bn. Under the $14.5bn acquisition, Boston is valuing Penumbra at $374 per share.
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By GlobalDataBoston expects to finance the approximately $11bn cash portion of the transaction via a combination of cash on hand and new debt.
Boston CEO Mike Mahoney commented: “The addition of Penumbra can expand access for these novel technologies to more patients and customers around the world, further enhancing our revenue and margins over time with proven offerings that have a history of growth and innovation.”
According to GlobalData analysis, the global peripheral vascular devices market is growing at a CAGR of 4.5% and projected to reach a valuation of $21.45bn in 2034, up from $13.82bn in 2024.
GlobalData senior analyst Ashley Clarke highlighted that procedure-based solutions and comprehensive platforms are increasingly important as healthcare providers look for integrated, workflow-efficient offerings.
Clarke said: “Boston’s planned acquisition of Penumbra highlights how medtech leaders are consolidating high-growth procedural segments like neurovascular and cardiovascular intervention to meet rising clinical demand.
“Using their global infrastructure, Boston can potentially help scale and integrate Penumbra’s mechanical thrombectomy and vascular technologies into hospitals and health systems faster than Penumbra could alone.”
GlobalData’s medical data and analytics director Alison Casey also pointed out that Boston’s acquisition of Penumbra will put them in direct competition with Stryker in the peripheral thrombectomy market. According to GlobalData’s US SKU tracker, Stryker and Penumbra comprise almost 90% of the total market share in the US in this market.
Casey said: “GlobalData analyses show that Penumbra is currently beating out Stryker for top position in this market, primarily due to favourable sales of their Lightning Flash device.
“The move will also strengthen Boston’s position with vascular embolisation plugs and coils, where currently Penumbra holds the market leader position and provides Boston with an entry into the aspiration thrombectomy market for neurovascular devices.”
Boston’s deal for Penumbra was announced during the ongoing JP Morgan Healthcare conference in San Francisco, US, and represents the second acquisition by Boston this week. At the start of the week, the company purchased California-based bladder dysfunction specialist Valencia Technologies, for which terms were not publicly disclosed.
Valencia’s lead product is eCoin, an ITNS system for urge urinary incontinence (UUI) treatment. Implanted under the skin near the ankle, the coin-sized device is intended for patients who are intolerant to or have responded inadequately to more conservative UUI treatments.
Boston’s deal marks the latest megadeal in the medtech sector. In November 2025, Abbott acquired cancer diagnostic specialist Exact Sciences for $23bn.
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