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Gus Iversen, Editor in Chief | January 16, 2026
Boston Scientific has announced plans to acquire Penumbra Inc. in a cash-and-stock deal valued at approximately $14.5 billion.
The agreement, approved by the boards of both companies, values Penumbra shares at $374 each and is expected to close later in 2026, pending stockholder approval and customary regulatory reviews.
The Marlborough, Massachusetts-based company said the acquisition will expand its presence in mechanical thrombectomy and neurovascular care, two areas it identified as strategic growth opportunities. Penumbra, headquartered in Alameda, California, manufactures devices for treating stroke, pulmonary embolism, deep vein thrombosis, and other vascular conditions.
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“Penumbra is a well-established company with an experienced, high-performing team and this acquisition offers Boston Scientific an opportunity to enter new, fast-growing segments within the vascular space,” said Mike Mahoney, chairman and CEO of Boston Scientific. He added that Penumbra CEO Adam Elsesser will join the Boston Scientific board of directors upon the deal’s completion.
Penumbra’s product line includes the Lightning Bolt and Lightning Flash systems, both of which use computer-assisted vacuum technology for clot removal in peripheral vessels. The company also markets neurovascular devices for stroke and embolization procedures and is developing further clinical evidence to support expanded access globally.
“Our decades-long development of therapies for challenging medical conditions has focused on deep innovation for complex diseases, so that we can offer physicians novel solutions to transform patient care,” Elsesser said. He has elected to receive his compensation entirely in Boston Scientific shares.
The deal will be financed with roughly $11 billion in cash, using both cash on hand and new debt. Boston Scientific expects the transaction to be slightly dilutive to adjusted earnings in the first year, neutral to modestly accretive in the second year, and more accretive over time.
Penumbra reported estimated 2025 revenue of $1.4 billion, representing annual growth of approximately 17.4%.
