Boston Scientific to Acquire Penumbra for $14.5 Billion

Boston Scientific Corporation (BSX) entered a merger agreement on January 15, 2026, to acquire Penumbra, Inc. (PEN) in a deal valued at $14.5 billion.

Deal Structure:

The deal values each Penumbra share at $374, with Penumbra stockholders having the right to elect to receive $374 in cash or 3.8721 shares of Boston Scientific common stock. The purchase price represents a premium of 19.32% from the stock’s last close.

The election is subject to proration, so that the total transaction consideration is paid roughly 73% in cash and approximately 27% in shares of Boston Scientific common stock.

Company Profile:

Penumbra is a medical technology company focused on developing innovative thrombectomy and neurovascular devices to remove blood clots and treat complex vascular conditions such as stroke, pulmonary embolism, and acute limb ischemia, serving healthcare providers in over 100 countries.

Boston Scientific is a medical technology company that develops and manufactures innovative devices and therapies across cardiovascular, neuro, medtech, and minimally invasive specialties, helping physicians diagnose and treat complex diseases worldwide.

Deal Details and Timeline:

Boston Scientific expects to fund the approximately $11 billion cash portion of the transaction using a combination of cash on hand and new debt.

The deal is expected to be completed in 2026.

Penumbra was advised by Perella Weinberg Partners on financial matters and by Davis Polk & Wardwell on legal matters. Boston Scientific Corporation received legal advice from Allen Overy Shearman & Sterling and Arnold & Porter Kaye Scholer.

Boston Scientific is paying 10.18 times sales for Penumbra.

Deal Metrics:

To explore further details about this mega M&A transaction, visit the Deal Metrics page here:
Deal Metrics for the acquisition of Penumbra, Inc. (PEN) by Boston Scientific Corporation (BSX)

The Deal Metrics page for each merger or acquisition includes:

– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And a whole lot more.

Disclaimer: Before buying or selling any securities mentioned in this article, please conduct your own due diligence. We do not warrant the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article