Boston Scientific's history began in the late 1960s, when co-founder John Abele acquired an equity interest in Medi-tech, Inc., a research and development company focused on developing alternatives to traditional surgery. Medi-tech's first products, a family of steerable catheters, were introduced in 1969 and were used in some of the first less-invasive procedures. Versions of these steerable catheters are still used today. In 1979, John Abele and Pete Nicholas partnered to buy Medi-tech and together formed Boston Scientific Corporation. Driven by the needs of the medical community for innovative products, the Company grew from revenues of approximately $2 million in 1979 to more than $8.3 billion in 2007.
Since its public offering in 1992, Boston Scientific has undertaken an aggressive acquisition strategy, assembling the lines of business that allow it to continue to be a leader in the medical industry. Outside of North America, Boston Scientific's development, manufacturing, marketing and sales are managed by the International division of Boston Scientific through its operations in Europe, Japan and Inter-Continental, and include sales representatives in more than 45 countries. Today, Boston Scientific employs approximately 25,000 people and operates 26 manufacturing, distribution and technology centers worldwide. Corporate headquarters are located in Natick, Massachusetts.
