Boston Scientific left nursing its bottom line after cyberattack
Boston Scientific says its August 25 network intrusion will materially hit third-quarter and full-year sales and earnings, likely missing guidance.
Boston Scientific detected unauthorized activity on its network on August 25 and took systems offline, disrupting order processing and shipping operations worldwide. In an SEC filing, the medical device maker warned of a material impact on Q3 and full-year results, making it unlikely to meet the net sales growth and adjusted EPS guidance issued in July. Its distribution network has been substantially restored, sterilization facilities are operational, manufacturing resumed at most sites, and an interruption affecting cardiac device remote-monitoring activations was resolved. The company has not revealed the attack vector, whether ransomware was involved, or whether data was stolen; no ransomware group has claimed responsibility and the investigation continues.