COVID-19 variants temporarily undermine performance
Following a strong rebound during the first half of 2021, Boston Scientific saw its performance decline during the second half of 2021 as a result of new COVID-19 (coronavirus) variants. While many of its product segments finished above 2020 levels when the coronavirus severely limited demand, its n euromodulation business, which develops and manufactures devices to treat various neurological movement disorders and manage chronic pain, was adversely affected by the pandemic. However, this is believed to be a short-term setback, with the company's long-term growth projected to be between 6.0% and 8.0% as new acquisitions like Preventice Solutions, Devoro Medical and Farapulse come online.
COVID|New Activity|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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