Boston Scientific announced a definitive agreement to acquire Penumbra in a transaction valued at approximately $14.5 billion. The deal offers Penumbra shareholders $374 per share, a 19.3% premium to the stock's previous closing price. The acquisition is expected to close later in 2026 and will be funded with a mix of cash and stock.

The move strengthens Boston Scientific's position in the cardiovascular device market. Penumbra specializes in devices for treating conditions like pulmonary embolism, stroke, and deep vein thrombosis through minimally invasive procedures. Boston Scientific's CEO stated the acquisition provides an opportunity to enter new, fast-growing segments within the vascular space.

Penumbra's CEO, Adam Elsesser, will join Boston Scientific's board upon the deal's completion. The transaction implies an enterprise value of roughly $14.5 billion, accounting for Penumbra's net cash. This acquisition comes as medtech companies continue investing heavily in their cardiovascular franchises, driven by strong demand for heart and vascular devices.