Operational net sales growth included organic net sales growth of 18.2% and a 4.0% positive impact from acquisitions. Key acquisitions in 2024 included B. Braun, Silk Road Medical, and Axonics.

Emerging Markets net sales grew 6.5% on a reported basis and 9.8% operationally. This growth was primarily driven by China, fueled by portfolio breadth and commercial execution.

Boston Scientific announced an agreement to acquire SoniVie Ltd., expanding its Cardiology division with the TIVUS Intravascular Ultrasound System. The upfront cash payment is expected to be $360 million, with a potential $180 million future payment upon regulatory milestone achievement.

The 2023 Restructuring Plan, aimed at optimizing the global supply chain, is underway. This plan intends to simplify manufacturing and distribution, transfer production lines, and drive operational efficiencies.

As of March 31, 2025, the company was in compliance with the financial covenant required by the 2021 Revolving Credit Facility. The maximum permitted leverage ratio was 4.75 times, while the actual ratio was 2.21 times.

The multi-year implementation of a new global ERP system, replacing the existing system, is ongoing. While changes to internal controls are expected, no changes occurred during Q1 2025.

The company acknowledges ongoing macroeconomic trends and geopolitical factors, including supply chain disruptions, inflation, and trade/tariff policies, which could negatively impact business operations and results.

The company continues to face legal proceedings, including patent litigation and product liability claims. The accrual for legal matters that are probable and estimable was $316 million as of March 31, 2025.

The company notes that various tax provisions of the Tax Cuts and Jobs Act are set to expire in 2025. If these provisions are not extended or modified, it could have a material adverse impact on the effective tax rate, financial condition, results of operations, and cash flows.

The increase in net sales was primarily driven by strong commercial execution across our businesses, particularly in our Electrophysiology business unit, which was led by the rapid adoption of our Farapulse™ Pulsed Field Ablation System.

The company highlights the recent U.S. launch of its AGENT™ Drug-Coated Balloon as a driver of growth in its coronary therapies franchise, suggesting an improved competitive position.

The company is focused on expanding its global presence in Emerging Markets, with significant growth in China, driven by the breadth of the portfolio and a focus on innovation and strong commercial execution.

Gross profit margin increased in the first quarter of 2025 as compared to the same period in the prior year. The primary factors that impacted gross profit margin in the first quarter of 2025 were increased sales of higher margin products, offset by inventory charges and other period expenses.

During the first quarter of 2025, SG&A expenses increased $233 million, or 17 percent, compared to the prior year period and were 120 basis points lower as a percentage of net sales.

The 2023 Restructuring Plan is helping to advance our Global Supply Chain Optimization strategy, which is intended to simplify our manufacturing and distribution network by transferring certain production lines among facilities and drive operational efficiencies and resiliency.

R&D expenses increased $77 million, or 21 percent, compared to the prior year period and remained flat as a percentage of net sales. R&D expenses increased as a result of investments across our businesses in order to maintain a pipeline of new products that we believe will contribute to profitable sales growth.

Operational net sales growth was primarily driven by growth of our Electrophysiology business unit, led by our Farapulse™ Pulsed Field Ablation System, indicating successful innovation and market adoption.

Boston Scientific announced an agreement to acquire SoniVie Ltd., expanding its Cardiology division with the TIVUS Intravascular Ultrasound System. This acquisition demonstrates a commitment to innovative technologies.

The company completed a registered public offering of €1.500 billion in aggregate principal amount of euro-denominated senior notes. The proceeds were used to repay maturing debt and for general corporate purposes.

As of March 31, 2025, the company had the full amount remaining available under the $1.000 billion stock repurchase authorization. However, no shares were repurchased during the quarter.

The company continues to allocate capital towards acquisitions, including the announced acquisition of SoniVie and the completed acquisition of Cortex, demonstrating a focus on strategic growth through M&A.

The provided 10-Q filing does not contain any specific information regarding environmental, social, or governance (ESG) initiatives undertaken by Boston Scientific. Further review of other company documents or disclosures is required.

Emerging Markets net sales grew 6.5% on a reported basis, but this included a negative impact of 330 basis points from foreign currency fluctuations, highlighting the challenges of operating in these markets.

The company acknowledges the impact of macroeconomic trends and geopolitical factors, including inflation, supply chain disruptions, and trade/tariff policies, which could negatively impact business operations.

The company is monitoring the impact of the Pillar Two global minimum tax and related legislative adoption by various countries, highlighting the evolving regulatory landscape.