Boston Scientific posts 44% profit increase
Courtesy/Boston Scientific
Boston Scientific's global headquarters in Marlborough.
Marlborough medical technology company Boston Scientific posted a 44-percent increase in net income for the first quarter on Thursday while making sales of $2.16 billion for 10-percent growth.
Those sales beat the company's expectations for the quarter and continue a strong period for the company, which had 12-percent year-to-year growth in 2016.
The 44-percent increase in net income led to a total of $290 million for the quarter.
Boston Scientific shares on Thursday were trading around $26, after closing at a 10-year high of $25.97 on Wednesday.
Sales were strongest in Boston Scientific's medical and surgical sector, which rose by 15 percent in the quarter. Adjusted earnings per share for the period were $0.29.
First-quarter growth was especially strong for the company in North America, but slower in Europe. It is abroad where Boston Scientific hopes to expand with a planned $435-million purchase of a Swiss heart valve company announced last month.
The purchase of Symetis, makes valve systems for use in the treatment of high-risk patients suffering from a severe and symptomatic condition called aortic valve stenosis, is expected to close in the second quarter.
Boston Scientific announced earlier this year a battery-powered defibrillator for patients with heart failure had received recommendation by the National Institute for Health and Care Excellence.
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