We are advising Penumbra on the transaction

Davis Polk is advising Penumbra, Inc. on its sale to Boston Scientific Corporation in a cash and stock transaction that values Penumbra at $374 per share, reflecting an enterprise value of approximately $14.5 billion. The transaction is expected to be completed in 2026, subject to the receipt of Penumbra stockholder approval and the satisfaction of other customary closing conditions.

Penumbra, Inc., the world’s leading thrombectomy company, is focused on developing the most innovative technologies for challenging medical conditions such as ischemic stroke, venous thromboembolism such as pulmonary embolism, and acute limb ischemia. Its broad portfolio, which includes computer assisted vacuum thrombectomy (CAVT), centers on removing blood clots from head to toe with speed, safety and simplicity. By pioneering these innovations, it supports healthcare providers, hospitals and clinics in more than 100 countries, working to improve patient outcomes and quality of life.

Boston Scientific Corporation transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, it advances science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Its portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions.

The Davis Polk corporate team includes partners Alan F. Denenberg and Michael Diz, counsel Jason Bassetti and associate Dove Barbanel. Partner Adam Kaminsky and counsel Joseph S. Brown are providing executive compensation advice. Partner David R. Bauer is providing intellectual property advice. Partners Arthur J. Burke and Matthew Yeowart are providing antitrust and competition advice. Partner Andrew Ditchfield is providing civil litigation advice. Members of the Davis Polk team are based in the Northern California, New York, Washington DC and London offices.
 

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