Boston Scientific Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Boston Scientific Corp. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

BOSTON SCIENTIFIC CORP (BSX) filed a Annual Report (10-K) with the SEC on February 20, 2024. Boston Scientific Corp. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 300 Boston Scientific Way, Marlborough, MA 01752-1234. The business phone number is 508-683-4000. The Standard Industrial Classification code is 3841 (Surgical & Medical Instruments & Apparatus).

Why It Matters

For investors and stakeholders tracking BOSTON SCIENTIFIC CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Boston Scientific's financial health, operational strategies, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's performance and future outlook. As a key regulatory filing, this document offers insights into the company's compliance, governance, and material business developments, impacting investor confidence and strategic decision-making.

Risk Assessment

Risk Level: medium — BOSTON SCIENTIFIC CORP shows moderate risk based on this filing. The company operates in the highly regulated medical device industry, facing risks related to product development, regulatory approvals, and market competition, as detailed in its 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Boston Scientific's performance and potential challenges in the medical device sector.

Key Numbers

• 20231231 — Conformed Period of Report (Fiscal year end date)
• 20240220 — Filed as of Date (Filing date)
• 3841 — Standard Industrial Classification (Surgical & Medical Instruments & Apparatus)
• 001-11083 — SEC File Number (SEC filing identifier)

Key Players & Entities

• BOSTON SCIENTIFIC CORP (company) — Filer name
• 0000885725 (company) — Central Index Key
• 3841 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 300 BOSTON SCIENTIFIC WAY (company) — Business Address Street 1
• MARLBOROUGH (company) — Business Address City
• MA (company) — Business Address State
• 01752-1234 (company) — Business Address ZIP

FAQ

Industry Context

Boston Scientific operates within the medical device industry, a sector characterized by innovation, stringent regulatory oversight, and significant competition.

Regulatory Implications

The medical device industry is subject to extensive regulation by bodies like the FDA, impacting product development, manufacturing, and marketing processes.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Analyze the risk factors section to understand potential challenges and uncertainties facing Boston Scientific.
3. Compare the 2023 financial results with previous years to identify trends and performance changes.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-20: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value BSX New York Stock Exchange
• $54.09 — ased on the last reported sale price of $54.09 of the registrant's common stock on the
• $71.00 — cal incontinence. The purchase price is $71.00 in cash per share, or approximately $3.
• $3.670 billion — .00 in cash per share, or approximately $3.670 billion. The transaction is expected to close i

Filing Documents

• bsx-20231231.htm (10-K) — 3179KB
• exhibit1030-amendandrestat.htm (EX-10.30) — 59KB
• exhibit21-listofsubsidiari.htm (EX-21) — 25KB
• exhibit23-2023eyconsent.htm (EX-23) — 4KB
• exhibit311-ceo302202310xk.htm (EX-31.1) — 21KB
• exhibit312-cfo302202310xk.htm (EX-31.2) — 21KB
• exhibit321-ceo906202310xk.htm (EX-32.1) — 10KB
• exhibit322-cfo906202310xk.htm (EX-32.2) — 10KB
• exhibit97-bscdoddxfrankcla.htm (EX-97) — 41KB
• image_0a.jpg (GRAPHIC) — 2KB
• bsx-20231231_g1.jpg (GRAPHIC) — 47KB
• 0000885725-24-000017.txt (&nbsp;) — 16573KB
• bsx-20231231.xsd (EX-101.SCH) — 77KB
• bsx-20231231_cal.xml (EX-101.CAL) — 96KB
• bsx-20231231_def.xml (EX-101.DEF) — 430KB
• bsx-20231231_lab.xml (EX-101.LAB) — 1244KB
• bsx-20231231_pre.xml (EX-101.PRE) — 758KB
• bsx-20231231_htm.xml (XML) — 3265KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 19 ITEM 1B. UNRESOLVED STAFF COMMENTS 33 ITEM 1C. CYBERSECURITY 33 ITEM 2.

PROPERTIES

PROPERTIES 34 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 34 ITEM 4. MINE SAFETY DISCLOSURES 34 PART II 35 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 35 ITEM 6. RESERVED 37 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 38 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 63 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 66 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 120 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 120 ITEM 9B. OTHER INFORMATION 120 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 121 PART III 122 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 122 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 122 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 122 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 122 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 122 PART IV 123 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 123 ITEM 16. FORM 10-K SUMMARY 133

SIGNATURES

SIGNATURES 134 2 PART I

BUSINESS

ITEM 1. BUSINESS Our Company Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties. Our mission is to transform lives through innovative medical solutions that improve the health of patients around the world. As a medical technology leader for more than 40 years, we have advanced the practice of less-invasive medicine by helping physicians and other medical professionals diagnose and treat a wide range of diseases and medical conditions and improve patients' quality of life by providing alternatives to surgery and other medical procedures that are typically traumatic to the body. We advance science for life by providing a broad range of high performance solutions to address unmet patient needs and reduce the cost of health care. When used in this report, the terms "we," "us," "our" and "the Company" mean Boston Scientific Corporation and its divisions and subsidiaries. Business Strategy We operate pursuant to five strategic imperatives. We aim to: Strengthen Category Leadership, Expand into High Growth Adjacencies, Drive Global Expansion, Fund the Journey to Fuel Growth and Develop Key Capabilities. We believe that our execution of these strategic imperatives will help us deliver on our mission, drive innovation and increase value for our customers and employees, while strengthening our leadership position in the medical device industry and delivering profitable revenue growth. We expect to continue to invest in our core businesses and pursue opportunities to diversify and further expand our presence in strategic, high-growth adjacencies and new global markets, including growth within the countries we define as emerging markets. Maintaining and expanding our international presence is an important component of our long-term growth strategy. Through our international presence, we seek to increase net sales and market share, leverage our relationsh

View Full Filing

View this 10-K filing on SEC EDGAR