Full Press Release Details
MARLBOROUGH, Mass. , June 26, 2019 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX ) is hosting a meeting with the investment community today in New York City to review its business and long-term growth strategies. The company is presenting plans for its product pipeline and strategic investments to enable improved clinical and economic outcomes, sustain category leadership in served markets and expand into high-growth, adjacent markets to deliver strong financial performance across the company's MedSurg, Rhythm and Neuro, and Cardiovascular segments.
"This is an exciting time for Boston Scientific to help more patients live better and longer lives through the benefits provided by our current medical devices and treatment therapies, while we invest in and develop a robust, long-term pipeline of future technologies," said Mike Mahoney , chairman and chief executive officer, Boston Scientific. "We have an outstanding global team that is focused on creating more value for patients, customers and shareholders, and delivering revenue growth faster than our served markets and in the top tier for our sector."
Extending Category Leadership and Expanding into Fast Growing Markets At today's meeting, the company is detailing its plans to continue to execute its category leadership strategy, diversify its portfolio into faster growth markets, and expand its portfolio and capabilities across regions. In 2018, Boston Scientific invested approximately $1 billion in research and development (R&D) and announced 10 strategic acquisitions* in support of its category leadership strategy, which emphasizes providing comprehensive technology and solutions in select target markets. As a result, the company is highlighting plans at today's meeting to launch approximately 75 new products by 2022. Many of these innovations are focused on adjacencies that are expected to expand our leadership in $22 billion in high growth markets by 2022.
Consistent with these launches into new markets, the company is also providing goals for moderate and high growth markets to reach an estimated 80 percent of sales by 2022. In terms of regional expansion, the company remains focused on emerging markets 2 and increasing patient access to care and supporting continued broad-based growth through physician training capabilities, channel expansion and local partnerships.
Driving Shareholder Value In addition to technology pipeline presentations, Boston Scientific is outlining financial goals, including a targeted organic revenue 1 compound annual growth rate for 2020E-2022E of 6 to 9 percent, and consistent double-digit adjusted EPS 1 growth through ongoing adjusted operating margin 1 improvement initiatives targeted to drive 50-100 basis points of improvement annually over the 2019-2022 period, all while maintaining a strong adjusted free cash flow 1 growth profile and disciplined capital allocation strategies.
About Today's Meeting Investors and other interested parties may access the replay of this meeting by visiting the events and presentations section on the company's website at http://investors.bostonscientific.com/ . Complete archives and summary materials from today's presentations will also be available online for approximately one year.
About Boston Scientific Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook .
* Recommended offer to acquire BTG plc announced November 20, 2018 . Deal not yet closed.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "target," "intend," "aiming" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our business plans, regulatory approvals, growth, expansion into new markets, new products, clinical trials, financial performance and product performance and impact. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
FINANCIAL DISCLAIMERS
NOTE: Unless noted otherwise, all references to market sizes, market share positions , and market growth rates are BSX internal estimates.
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SOURCE Boston Scientific Corporation