Boston Scientific increased profits $574M in 3Q

Marlborough medical device manufacturer Boston Scientific Corp. released its third quarter earnings report on Wednesday, which revealed a profits of $419 million.

This new figure demonstrates a positive turn around when compared to last year’s third quarter loss of $155 million.

In addition to its net income, Boston Scientific generated net sales of $2.9 billion.

On Thursday morning, Boston Scientific’s stock price was trading down 0.3% at $43.60 per share on the New York Stock Exchange. By comparison, the S&P 500 was trading up 0.8%.

The company attributes its current growth to the acquisitions of Lumenis, an Israel-based surgical company specializing in urological lasers, and Farapulse, Inc., a California firm which has become the first company to commercialize a cardiac pulsed field ablation technology, according to the release.

Agreements with Canadian-owned Baylis Medical Co. Inc. and California-based Devoro Medical Inc. expanded Boston Scientific electrophysiology and structural heart product portfolios, as well as its interventional strategies for thromboemboli, per the company’s statement. Worcester Business Journal