The rhythm management segment, which includes cardiac rhythm management devices and electrophysiology products, reported a 7% increase in revenue to $534 million in the third quarter. Sales of cardiovascular devices rose 8% to $723 million, while medical-surgical product revenue went up 4% to $588 million.
"We are particularly pleased with our global performance in cardiovascular and rhythm management,” Mike Mahoney, Boston Scientific's president and CEO, said in a statement.
Sales in that business rose 3% to $480 million in the third quarter, compared to $464 million in the quarter a year ago.
Boston Scientific updated its guidance for the year. It now expects revenue between $7.3 billion and $7.2 billion, which is a 3% to 4% increase on a reported basis.
The company is waiting to see if a new technology—the Watchman left atrial appendage closure device—will be approved by the Food and Drug Administration. An agency advisory committee recently recommended approval but the FDA is not required to use the panel's recommendation, although it usually does. The device would serve as an alternative treatment to oral anticoagulation therapies to reduce stroke risk in patients with atrial fibrillation.
Reuters this month reported that the panel concluded the device is safe but may not be effective in reducing the stroke risk in those patients.
“We still believe this is a large unserved market,” Mahoney said during a call with investors.
If approved, there is a $500 million market opportunity, he said. It's unclear how the technology would be reimbursed.
Follow Jaimy Lee on Twitter: @MHjlee