VP Research & Innovation @ DarkVision | Adjunct Prof | Advisor | Content Creator | MedTech | CleanTech | Imaging | AI | Analytics
𝐋𝐞𝐚𝐝𝐞𝐫𝐬 𝐰𝐡𝐨 𝐛𝐮𝐢𝐥𝐝 Boston Scientific From 1979, when it was founded in Watertown, Massachusetts, by Pete Nicholas and John Abele, to today where it is one of the world’s largest medical technology companies with close to 50,000 employees, and valuation of over $100B, here is a look at CEOs of Boston Scientific from its inception to the present day: 1. Pete Nicholas (1979-1999) Pete Nicholas was the co-founder and first CEO of Boston Scientific. Prior to Boston Scientific he held multiple leadership roles in Eli Lilly and Company’s medical divisions. In 1979 he met John Abele who was president of Meditech at the time. Together they started Boston Scientific and then grew it through a series of successful acquisitions. During his 20-year tenure, Pete transformed Boston Scientific from a small manufacturer of medical device to a global company with nearly $30B valuation, making him one of the most recognizable entrepreneurs in medtech. He stepped down as CEO in 1999 but remained as chairman of the board until 2016. He also played a key role in acquisition of Guidant in 2006 which at the time was the biggest acquisition in medtech history. 2. 𝐉𝐢𝐦 𝐓𝐨𝐛𝐢𝐧 (1999-2009) Jim Tobin became CEO in 1999, after serving as COO of Baxter International Inc. and later CEO of Biogen. Jim was known to be one of the greatest #medtech executives. He led Boston Scientific through a period of rapid #growth and fierce competition, especially with Johnson & Johnson and Medtronic. During his time Boston Scientific reached the valuation of $65B in 2004, which at the time was higher than Medtronic. However, the acquisition of Guidant in 2006 and the widespread recalls made the situation very difficult. He focused intensely on restoring the faith of investors, regulators, and customers in the Boston Scientific. He retired as CEO in 2009. 3. 𝐑𝐚𝐲 𝐄𝐥𝐥𝐢𝐨𝐭𝐭 (2009-2011) Ray Elliott became CEO in 2009, after serving as the chairman and CEO of Zimmer Biomet. At the time the company was struggling with high debt and declining sales. He implemented a restructuring plan, which involved cutting costs, divesting non-core businesses, and streamlining operations. He retired as CEO in 2011, citing personal reasons. Hank Kucheman became interim CEO. 4. Mike Mahoney (2012-present) Mike Mahoney joined the company in 2011, leaving J&J’s medical division. After fulfilling his non-compete agreement, he officially became CEO in 2012. Mike inherited the company while it was still recovering from the aftermath of the Guidant acquisition and the global financial crisis. He embarked on a strategy of organic growth and market expansion, launching new products, as well as acquiring several companies, such as Bard, BTG, Baylis, and Vertiflex. He also improved the company's culture, values, and reputation. During his tenure he added over $100B to Boston Scientific #marketcap, making it one of the most valuable medical device companies, outgrowing Medtronic.
My previous post on how Boston Scientific outgrow Medtronic https://www.linkedin.com/posts/rezazahiri_medtronic-intuitive-bostonscientific-activity-7214318174094151681-pIXi?utm_source=share&utm_medium=member_desktop
My previous post on leaders who build medtronic https://www.linkedin.com/posts/rezazahiri_business-leadership-acquisition-activity-7213569757151682561-pZIW?utm_source=share&utm_medium=member_desktop
My previous post on growth of Medical Device companies https://www.linkedin.com/posts/rezazahiri_revenue-medicaldevice-growth-activity-7186439267412258816-UyZp?utm_source=share&utm_medium=member_desktop
Loving this series Reza Zahiri, PhD, MBA , thanks for sharing! Looking forward to seeing more leaders who built another giant 😊
Started my ride in 1997 with Schneider-Namic, then we became Scimed to launch Taxus then Promus DES, then to today. Show me a better ride, now with AF Solutions w Watchman FLX Pro, Baylis, and Farapulse . More to come… blessed ! 🙏🏼
Boston Scientific makes it clear quality of patient care comes first in everything they do. World class leadership who gets it.
A remarkable performance by a team led by a remarkable leader- a rockstar CEO, Mike Mahoney.
Don’t forget Hank Kucheman ! He had the vision to acquire Cameron ( leadless AICD , and Atritech ( watchman ) when BSC stock was abysmal . M Mahoney has executed fantastically . Hank laid the groundwork for success …
Falto eu….
VP Research & Innovation @ DarkVision | Adjunct Prof | Advisor | Content Creator | MedTech | CleanTech | Imaging | AI | Analytics
2wMy previous post on Boston Scientific's acquisition of Guidant https://www.linkedin.com/posts/rezazahiri_???????-the-second-worst-deal-activity-7200896052567183360-tvfk?utm_source=share&utm_medium=member_desktop