Boston Scientific (BSX) investor relations material

Cyber attack and operational recovery

• Operations and IT systems were fully restored after an eight-day global shutdown, with manufacturing and distribution now back to normal.

• The incident led to lost procedures and supply disruptions, making it unlikely to meet Q3 and full-year guidance; financial impact details will be clearer by the October 28 earnings call.

• The impact was broad-based across all geographies and business units.

• Industry collaboration was highlighted, with competitors sharing best practices to address cyber risks.

• Long-term business themes and growth targets remain unchanged, pending further analysis of recapture rates.

WATCHMAN and LAAC market outlook

• U.S. WATCHMAN market expected to see mid to high single-digit declines in the second half and similar trends in 2027, with growth below market due to new competition.

• Efforts focus on medical education, direct-to-patient activation, and dedicated commercial resources to support WATCHMAN.

• Anticipated 2027 label update aims to clarify eligibility, making WATCHMAN a consideration for all high-risk AFib patients unable or unwilling to take oral anticoagulants.

• Recent clinical data and draft guideline updates reinforce WATCHMAN’s equivalence to oral anticoagulation for stroke prevention.

• Physician fee cuts and procedural inefficiencies are headwinds, but hospital reimbursement remains strong.

Electrophysiology (EP) and FARAPULSE

• EP market remains healthy, with rapid U.S. adoption of PFA technology and high penetration, though growth may moderate due to competition and pricing pressure.

• FARAPULSE share has eroded faster than expected, now estimated at about 50%, but new product launches (Ultra, ICE, FLEX) in 2027 aim to reinforce leadership.

• International PFA penetration is less mature, representing a significant growth opportunity.

• FARAWAVE Ultra, expected in the second half of 2027, will offer integrated mapping and ablation, supporting premium pricing.

• The internal pipeline is robust, but openness to external partnerships remains.