Symetis Transaction Strategic and Financial Highlights. March 30, 2017

Transcription

1 Symetis Transaction Strategic and Financial Highlights March 30,

2 Safe Harbor for Forward-Looking Statements This material contains forward-looking statements within the meaning of federal securities laws which may be identified by words like anticipate, expect, believe, estimate, and other similar words. They include, among other things, statements about the transaction and transaction closing timeline, our growth, market growth and market share; new product approvals and launches; clinical trials; cost savings and growth opportunities; our cash flow and expected use; and our financial performance, including sales, margins, earnings and other guidance. Actual results may differ materially from those discussed in the forward-looking statements. Factors that may cause such differences include those described in the risk factors section of our most recent 10-K and subsequent 10-Q s filed with the SEC. These statements speak only as of today s date and we disclaim any intention or obligation to update them. 2

3 Transaction Overview Definitive agreement to acquire Symetis Privately-held Swiss structural heart company with ~300 employees Deal consideration: $435M up-front cash Expected close Q2:17, subject to customary conditions Summary financials Boston Scientific deal metrics (est.) ROIC ~10% year 3 EPS impact 2017: breakeven 2018+: accretive Symetis Revenue (CHF*) 24.9M 38.4M Y/Y growth +59% +51% *FX rate of ~1.00CHF/1.00USD 3

4 Compelling Strategic Fit & Financial Return Increases exposure to large, fast-growing TAVR * segment: $4B+ by 2020 ACURATE : compelling self-expanding valve with strong pipeline & margins ACURATE: strongly complementary to Lotus valve platform Est. ROIC ~10% year 3; earnings neutral 2017 and accretive Enhances portfolio and category leadership strategy in Structural Heart BSX Watchman LAAC * device BSX Lotus TAVR platform Symetis ACURATE TAVR platform 4 *TAVR = Transcatheter aortic valve replacement; LAAC = Left Atrial Appendage Closure The ACURATE TA and ACURATE neo/tf valve systems are CE marked. In the U.S., they are not available for use or sale. The ACURATE neo/as valve system is not available for use or sale. The Lotus valve system is currently not available for use or sale.

5 Symetis: Attractive TAVR Portfolio Established TAVR clinical program with strong pipeline Innovative TAVR technology: X-shaped structure and top-down approach Stable, predictable procedure with short learning curve Low paravalvular leak, best-in-class pacemaker rate, low gradients Two CE-marked TAVR products with proven clinical success ACURATE TA and ACURATE neo/tf, both in 3 sizes covering annulus 21-27mm Well developed capabilities in R&D, IP, manufacturing, commercialization Symetis Pipeline* 2017E 2018E 2019E ACURATE neo AS ACURATE TA LP Accessories ** CE mark CE mark CE mark *Target dates **Balloon catheter, guidewire, and introducer 5 The ACURATE TA and ACURATE neo/tf valve systems are CE marked. In the U.S., they are not available for use or sale.

6 Lotus: Strongly complemented by ACURATE Cornerstone Lotus valve well complemented by Symetis ACURATE platform Lotus: Able to fully reposition, retrieve; greater physician control ACURATE: Excellent ease-of-use & deliverability, short learning curve for physicians Together, valves address broader range of patient pathologies & anatomies Combined TAVR offerings would include both Intra-annular + supra-annular valves Mechanically expanding + self-expanding valves Transfemoral + transapical access routes Other accessory products Enhances ability to align TAVR offerings with patient and physician needs Broad portfolio with varying options for approach, features, and accessories Building the broadest and most clinically differentiated offering in TAVR 6 The Lotus valve system is currently not available for use or sale.

7 Key Upcoming Clinical TAVR Milestones EuroPCR 2017 May 18 Lotus REPRISE III: 912 pts RCT, 12 months Lotus RESPOND: 1,000 pts registry, 12 months Lotus RESPOND Extension: 50 pts, 30 days (Lotus + DG*) ACURATE SAVI TF: 1,000 pts registry, 12 months ACURATE neo/tf Low PPM: 175 pts, multi-center London Valves 2017 Sept. Sept. EuroPCR 2018 May ACURATE neo/tf PROGRESS PVL: 30 day corelab PVL ACURATE neo/as: 30 day cohort SCOPE I RCT: ACURATE neo/tf vs Sapien 3, 30 days 7 The ACURATE TA and ACURATE neo/tf valve systems are CE marked. In the U.S., they are not available for use or sale. The ACURATE neo/as valve system is not available for use or sale. The Lotus valve system and *Depth Guard are currently not available for use or sale.

8 Enhances BSX Category Leadership Strategy in Structural Heart: TAVR + LAAC TAVR: Committed to portfolio leadership with broadest offering 8 Lotus Uniquely differentiated: best in class physician control & PVL * rates Confident in the progress we have made to address Lotus manufacturing issues On track for Lotus EU market re-entry and U.S. PMA filing expected Q4:17E ACURATE Self-expanding, supra-annular approach complements Lotus and patient range ACURATE platform has grown > 50% in 2015, 2016 LAAC: Leadership with Watchman device Important option for stroke risk reduction with strong clinical results & safety profile Excellent procedural growth and steady pace of new center openings Long runway with no U.S. competition, extending lead with ASAP TOO & Japan BSX uniquely positioned in Structural Heart Breadth of products, unique innovations, strong commercial presence $250M legacy franchise in 2017 with upside from Symetis *PVL = paravalvular leak The ACURATE TA and ACURATE neo/tf valve systems are CE marked. In the U.S., they are not available for use or sale. The ACURATE neo/as valve system is not available for use or sale. The Lotus valve system is currently not available for use or sale.

9 Key Upcoming Investor Events March 30 Q2:17E June 27 Symetis transaction announced BSX webcast from EuroPCR Expected Symetis transaction close BSX Investor Day and webcast (revised date) 9