Overview
- The board approved the company-wide restructuring on July 21 and Boston Scientific disclosed details in a July 27 SEC filing that put total pre-tax costs at $700 million to $800 million and expected cash outlays at $600 million to $700 million.
- The plan breaks costs into up to $300 million for terminations, up to $350 million for moving manufacturing lines, and up to $150 million for other expenses, and is expected to be largely complete by the end of 2029.
- Boston Scientific beat second-quarter estimates with $5.44 billion in revenue and $0.86 adjusted EPS but on July 29 trimmed its 2026 adjusted EPS guidance to $3.28–$3.32 and cut its organic sales outlook.
- Management said Watchman implant revenue will be flat in the near term because more physicians are performing the implant alongside other cardiac procedures, which has reduced standalone Watchman uptake.
- The company expects about $500 million in annual pre-tax savings when the program is fully implemented and plans to redeploy much of those savings into growth initiatives, a shift that investors will watch for execution risk and effects on jobs at affected plants and functions.