A rebounding Boston Scientific Corp. (NYSE:BSX) said it plans to eliminate up to 1,400 jobs as part of a restructuring program aimed at saving between $225 million to $275 million annually by 2013.The job cuts are “designed to strengthen operational effectiveness and efficiencies, increase competitiveness and support new investments, thereby increasing shareholder value,” according to [...]

Boston Scientific Corp. (NYSE:BSX) sank $150 million into a five-year plan to expand Chinese commercial operations, including establishing a wholly owned manufacturing site and developing training centers for Chinese health care providers.The Natick, Mass.-based med-tech giant also plans to increase its Chinese workforce six-fold from 200 to more than 1,200 while investing further in R&D [...]

Boston Scientific Corp. (NYSE:BSX) warned that 167 jobs may be cut from its Miami, Fla., facility between Sept. 20 and Oct. 7 this year, according to a filing with the Worker Adjustment & Retraining Notification department of the Florida Agency for Workforce Innovation on Friday.The Natick, Mass.-based medical device giant, which ranked [...]

Boston Scientific Corp. (NYSE:BSX) plans to hire 250 new employees for its manufacturing operation in Latin America, according to a report from Costa Rica.The Natick, Mass.-based medical device maker is expanding its engineering, production, quality control and process development roles in Heredia, just outside the capital city of San Jos . BSX also [...]

Repealing the medical device tax is the most critical issue to maintaining a “climate of innovation,” Boston Scientific Corp. (NYSE:BSX) CEO J. Raymond Elliott wrote in a July 4th editorial for Star Tribune newspaper.“The medical device tax directly undermines the Obama administration’s competitiveness agenda. It will remove an estimated $20 billion from [...]

Boston Scientific Corp. (NYSE:BSX) garnered two upgrades and one downgrade from analysts this week, creating a roller-coaster effect in stock prices for the medical device giant.The company’s stock has been closing at higher and higher values all week, but slid nearly 4 percent in midday trading Friday after an analyst [...]

Paulson & Co. Inc., once Boston Scientific Corp.’s (NYSE:BSX) largest shareholder, continued to liquidate its position in BSX during the first quarter, selling off some 10 million shares from its stake in the Natick, Mass.-based medical device company.The New York-based hedge fund has been steadily selling off its BSX shares over the last year. It [...]

Every week, MedCity News highlights the best of its MedCitizens: syndication partners and MedCity News readers who discuss life science current events on MedCityNews.com. This week’s life science current events include Ray Elliott and Boston Scientific’s new CEO, “Obamacare” and insurance agents, and Medtronic diabetes cuts.

In the automotive market, it was Japan that gave the Big Three a run for their money.In medical devices, the Big Three — Fridley, Minnesota-based Medtronic (NYSE:MDT); Natick, Massachusetts-based Boston Scientific (NYSE: BSX); and Little Canada, Minnesota-based St. Jude Medical (NYSE:STJ) — better watch out for Biotronik, a German medical devices firm.Especially in the troubled [...]

J. Raymond Elliott’s decision to step down as CEO of Boston Scientific (NYSE:BSX) began a little more than a month ago, when the company’s board asked him to document the accomplishments of his two-year tenure.As he spent an entire Sunday on a detailed outline of the past and ’ more importantly ’ the future of [...]