BSX · 10-K filed 17 Feb 2026 · year to 31 Dec 2025

Boston Scientific

27 named things its latest annual report says its results depend on, each in the company's own words. 22 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Group purchasing organizations

earns from · a substantial portion of our net sales

In addition, large group purchasing organizations, hospital networks and other buying groups are important to our business and represent a substantial portion of our net sales.Business (Item 1)

Also named by BAX, BDX, CDW, EW, GMED, GWW, SYY, USFD and 1 more

Suppliers

Single-source suppliers

depends onnamed as a risk

Certain of these materials and components are purchased from single sources due to quality considerations, expertise, costs or constraints resulting from regulatory requirements.Risk factors (Item 1A)

Also named by ACHR, AMAT, BAX, BWXT, CL, DOV, EL, ETN and 11 more

Contract sterilizers

depends onnamed as a risk

In addition, many of our products require sterilization prior to sale and we utilize a mix of internal resources and contract sterilizers to perform this service.Risk factors (Item 1A)

Also named by ZBH

Partners and platforms

Accounts receivable factoring programs (Europe and Asia)

depends onnamed as a risk

In addition, we have accounts receivable factoring programs in certain European and Asian countries.Risk factors (Item 1A)

Also named by IFF

Other companies

Penumbra, Inc.

approximately $14.500 billion

The purchase price is valued at $374 per share, or approximately $14.500 billion.Business (Item 1)

Bolt Medical, Inc.

$782 million

As disclosed in Note B to the consolidated financial statements, during 2025, the Company completed the acquisitions of Bolt Medical, Inc. and SoniVie Ltd. for purchase prices, net of cash acquired, of $782 million and $516 million, respectively.Market risk (Item 7A)

SoniVie Ltd.

$516 million

Places

International markets (outside U.S.)

earns from · 36 percent of our global net sales in 2025named as a risk

International net sales accounted for 36 percent of our global net sales in 2025.Risk factors (Item 1A)

Also named by ABNB, ADSK, CROX, CRWD, DOCU, DXCM, EFX, FICO and 18 more

China

competes withnamed as a risk

We may also face greater competition in China, among other countries, from domestic medical device companies that may benefit from their status as local manufacturers and suppliers.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Russia

operates innamed as a risk

Notably the Russia/Ukraine war has continued to create barriers to doing business in Russia and in parts of Eastern Europe and conflicts in the Middle East have disrupted operations of companies doing business in the region, including in Israel.Risk factors (Item 1A)

Also named by ALSN, ATR, AVY, AXP, BKR, C, CDNA, CEG and 50 more

Israel

operates innamed as a risk

Also named by AIOT, AKAM, AMAT, AMGN, APP, ASTS, AVY, CVX and 31 more

Japan

subject tonamed as a risk

These and any other legislative or administrative reforms to the reimbursement systems in the U.S., Japan, China, or other countries in a manner that significantly reduce or eliminate reimbursement for procedures using our medical devices, including price regulation, site of service requirements, competitive bidding and tendering, coverage and payment policies, comparative effectiveness of therapies, heightened clinical data requirements, technology assessments and managed-care arrangements, could have a material adverse effect on our business, financial condition or results of operations.Risk factors (Item 1A)

Also named by A, AAPL, AFL, AMKR, ANET, BMY, CAT, CDNS and 25 more

Taiwan Strait

named as a risk

Geopolitical developments related to ongoing global conflicts and tensions are sources of uncertainty and risk, and may cause disruptions to global or regional markets, supply chains or operations in applicable regions, including those related to the Russia/Ukraine war, tension in the Taiwan strait, and conflicts in the Middle East.Risk factors (Item 1A)

Also named by SPGI

Commodities and inputs

Euro

exposed to its pricenamed as a risk

Our interest rate risk relates primarily to U.S. dollar and euro-denominated borrowings partially offset by U.S. dollar cash investments.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Ethylene oxide

depends onnamed as a risk

To the extent we or our contract sterilizers are unable to sterilize our products, whether due to capacity, availability of materials for sterilization, regulatory or other constraints, including evolving federal and state regulations on the use of ethylene oxide, we may be unable to transition to alternative internal or external resources or methods in a timely or cost effective manner or at all, which could have a material impact on our results of operations and financial condition.Risk factors (Item 1A)

Also named by BDX, CAH, SOLV, STE

Per- and polyfluoroalkyl substances (PFAS)

depends onnamed as a risk

Additionally, U.S. and international governments have or are considering adopting regulations on the use of per- and polyfluoroalkyl substances (PFAS), and primary manufacturers of PFAS materials have announced that they are discontinuing the supply of such materials.Risk factors (Item 1A)

Also named by AMAT, SOLV, SYK

Regulators

U.S. Food and Drug Administration (FDA)

subject tonamed as a risk

Our products, marketing, sales and development activities and manufacturing processes are subject to extensive and rigorous regulation by the FDA pursuant to the Federal Food, Drug and Cosmetic Act (FDC Act), by comparable agencies in foreign countries and by other regulatory agencies and governing bodies.Risk factors (Item 1A)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

U.S. Department of Justice (DOJ)

subject tonamed as a risk

We have received, and in the future may receive, subpoenas and other requests for information from Congress and state and federal governmental agencies, including, among others, the U.S. Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC), the Office of Inspector General of the Department of Health and Human Services (HHS) and the Department of Defense, as well as from foreign governments and agencies.Risk factors (Item 1A)

Also named by AAPL, ACN, AMAT, ASO, BEN, CAH, CDNA, CDW and 21 more

Laws and programs

OECD Pillar Two global minimum tax

subject to · 15%named as a risk

Accordingly, the final adoption, implementation, and interpretation of Pillar Two across all jurisdictions where we do business could have a material adverse impact on our financial condition, results of operations and cash flows.Risk factors (Item 1A)

Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more

Medicare

earns fromnamed as a risk

Our products are purchased principally by hospitals, physicians and other health care providers around the world that typically bill various third-party payers, including government programs, authorities or agencies (e.g., Medicare and Medicaid in the U.S.) and private health plans, for the health care supplies and services provided to their patients.Risk factors (Item 1A)

Also named by ABT, ARWR, AXGN, BAX, BDX, BMY, CAH, CDNA and 48 more

U.S. tariffs

subject tonamed as a risk

We are subject to certain U.S. tariffs that are currently subject to legal challenge before the U.S. Supreme Court.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

Medicaid

earns fromnamed as a risk

Also named by ABBV, ABT, ARE, ARWR, BAX, BMY, CHE, CNC and 39 more

EU Medical Device Regulation (MDR)

subject tonamed as a risk

The MDR has required significant investment and will continue to require ongoing investment over the next couple of years to transition all products.Business (Item 1)

Also named by ABBV, BAX, BDX, CAH, COO, DXCM, EW, GEHC and 4 more

China Personal Information Protection Law (PIPL)

subject tonamed as a risk

China’s data‑protection and cross‑border transfer laws, including requirements under the Personal Information Protection Law (PIPL) and related regulations, impose strict obligations on how data involving Chinese individuals may be handled, along with similar regulations in other jurisdictions, impose additional obligations on how personal data may be collected, stored, and transferred, including data‑localization and government‑approval requirements.Risk factors (Item 1A)

Also named by ADSK, DCI, EWBC, FBIN, GTLB, IDCC, KVUE, SBUX and 2 more

U.S. Anti-Kickback Statute

subject tonamed as a risk

These authorities continue to closely scrutinize our industry, including for compliance with the U.S. Anti-Kickback Statute, False Claims Act, Physician Payment Sunshine Act and other health care-related laws, as well as FCPA, competition and U.S. and foreign export control, trade embargo and customs laws, as well as similar laws in other jurisdictions.Risk factors (Item 1A)

Also named by CAH, HCA, LH, ORCL, PROF, ZBH

Costa Rica Free Trade Zone regime

operates innamed as a risk

Our manufacturing facilities in Costa Rica operate under the Free Trade Zone regime, and we also benefit from tax holidays and tax incentive grants in various other countries.Risk factors (Item 1A)

Technology

FARAPULSE PFA System

earns from

It is now the predominant component of our Electrophysiology business unit and revenue.Business (Item 1)