Climbing sales for a made-in-Minnesota system treating atrial fibrillation helped sustain Boston Scientific’s streak of bullish results as the company brushed off tariffs.
The medtech company’s pulsed field ablation system, Farapulse, treated more than 200,000 patients with A-fib over the course of a year, pulling in more than $1 billion to treat the common quivering-heart disease that raises the risk of stroke. The console for the system, which delivers electric pulses to the heart through a catheter, is made in Minnesota.
Pulsed field ablation technology, CEO Mike Mahoney said in a recent interview, may be the biggest “disruptive product in a decade in all of medtech.”
Boston Scientific, with approximately 10,000 employees in Minnesota, reported a fourth-quarter adjusted net profit of $1 billion on $4.6 billion in sales, according to a quarterly investors presentation Wednesday. Sales grew by 19.5% on an organic basis.
For the full year, it reported adjusted profits of $3.7 billion on $16.7 billion in sales of medical devices. Revenue grew for the year by 16.4% on an organic basis. The company’s stock was up about 1.5% as of 11:09 a.m. Wednesday.
All eight of Boston Scientific’s business divisions have a presence in Minnesota, and the state is home to roughly 20% of its global operations footprint.
Mahoney told investors on the quarterly call the company has “more tailwinds than headwinds.”
Some of those headwinds may include potential tariffs affecting trade with Canada, China and Mexico, as well as more competition for Farapulse.