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Exec Chat: From Cameron To Boston Scientific, Navigating Through CRM Challenges

 
• By Tina Tan

Boston Scientific has had its fair share of struggles with its cardiac rhythm management unit, which it gained through its pivotal acquisition of Guidant back in 2006. A major slowdown in market growth was, and continues to be, a significant challenge, while the company has also had to contend with other internal operational issues. However, the business looks to be turning around to an extent, helped by a management change and some judicious innovation investments that are paying off. Medtech Insight caught up with Pierre Chauvineau, Boston Scientific's former VP of Rhythm Management, Europe and now VP Executive Advisor, to get an inside view.

Boston Scientific Corp. entered the cardiac rhythm management market in 2006 after acquiring Guidant for a hefty $27bn, which, at that time, was the biggest deal in medtech history. Some market spectators had balked at the offer price, which enable Boston Scientific to take Guidant away from Johnson & Johnson, but the Massachusetts firm had justified the deal – which it described as a "transforming event" in its annual 2007 report filing with the US Securities and Exchange Commission – with the significant high-growth potential it saw in the CRM sector and the opportunity for Boston Scientific to be an well-rounded heart device player.

The immediate years after the acquisition did see CRM top-line make modest increases but then things started slipping after 2009, with sales of this business declining every year (dropping 10%...

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