2024 Power 100: Michael Mahoney
Photo | Courtesy of Boston Scientific
Michael Mahoney, chairman and CEO of Boston Scientific
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As a leader of one of the largest and highest-profile companies based in Central Massachusetts, Michael Mahoney plays a key role in the region’s business landscape. Boston Scientific has more than 48,000 employees, with 2,800 employees based in Central Massachusetts, according to data provided to the WBJ Research Department. This makes the company the second-largest manufacturing employer in the area. The company operates in 130 countries around the world, providing medical solutions to more than 33 million patients each year.
With Mahoney at the wheel since 2012, Boston Scientific has made strides in bringing medical devices to market. In February, the company announced it received U.S. Food & Drug Administration approval for a spinal cord stimulator device created in an attempt to reduce the use of opioids. That same month, Boston Scientific announced the $3.7-billion purchase of Axonics, a California-based company specializing in medical equipment meant to improve the quality of life of those who are suffering from bladder and bowel dysfunction.
While Boston Scientific has been through its ups and downs over the years, the company had a strong 2023, as its revenue of $14.24 billion was a 12.3% increase from 2022.
When he isn’t leading a multi-billion dollar company, Mahoney assists in the operation of another one as a board member of Rhode Island-based CVS Health, as that company navigates challenges including a shortage of pharmacists and the difficulties of combating theft without alienating longtime customers.
He is the chair of the board of governors of the Boston College Chief Executives Club and gives back to the community as a board member of the Boys & Girls Club of Boston.
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