In 4Q17, Boston Scientific’s (BSX) Cardiovascular business segment reported sales of $913 million, representing above-market YoY (year-over-year) growth of ~8.7%.
The segment’s IC (interventional cardiology) division reported sales of $636 million in 4Q17, which represented a YoY rise of ~8.8%, including the impact of ~2.8% from its acquisition of Symetis in May 2017. For acquisition details, read Boston Scientific Completes Its Acquisition of Symetis.
Major growth drivers of IC business
The operational sales growth reported by the IC division of Boston Scientific’s cardiovascular segment came in at ~6.9% in 4Q17 and 6.1% in 2017. Strong momentum in Watchman sales and the PCI (percutaneous coronary intervention) franchises were the major drivers of this growth in the year.
In 4Q17, the complex PCI franchise registered double-digit growth after the company launched four new products in 2H17. Boston Scientific has a strong product pipeline of complex PCI devices, and it plans to continue the momentum of its new product launches in the division in 2018.
In 2017, Watchman sales contributed ~$250 million to the company’s total revenue. The company has witnessed the geographic expansion and increasing utilization of its Watchman devices driven by its investment in physician and patient education programs.
Given its recently completed acquisition of Symetis, Boston Scientific has expanded its TAVR (transcatheter aortic valve replacement) portfolio with the addition of Symetis’s Acurate platform, strengthening its position among the leading players in the segment, including Medtronic (MDT), Abbott Laboratories (ABT), and Edwards Lifesciences (EW).
Boston Scientific has made investments in training its sales and clinical teams in Europe for its acquired Acurate platform. Further, the company is expected to launch its next-gen Acurate neo 2 in Europe in 2H18. Also in 2H18, Boston Scientific expects to begin enrolling patients in its IDE (investigational device exemption) trials for Acurate in the United States.
In the next article, we’ll discuss the 2017 performance and future growth prospects of BSX’s Rhythm Management segment.