Boston Scientific Hit by Cybersecurity Incident
Boston Scientific said a cyberattack disrupted operations and shipping as the FDA raised concerns about a catheter tip separation risk.
- Boston Scientific detected a "cybersecurity incident" on Aug. 25, disrupting global operations, while separately recalling its ENROUTE Transcarotid Neuroprotection System following FDA concerns about potential arterial sheath tip separation.
- The breach disrupted access to business applications and order processing, prompting the $69bn company to engage third-party cybersecurity experts to help assess and contain the threat.
- Following the dual disclosures, shares fell 3.39% on Wednesday, as Boston Scientific noted the incident impacted its ability to process and ship customer orders, with Cork-based workers instructed to work from home.
- "While the company is working diligently to restore affected functions and systems access, the timeline for a full restoration is not yet known," Boston Scientific said; the investigation remains ongoing.
- This breach joins recent attacks on medical technology firms including Medtronic and Abbott Laboratories, with research showing 80pc of affected medical devices report significant impacts on patient care.
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Stock Market Today, Aug. 26: Boston Scientific Shares Fall 5% on Cybersecurity Incident and Product Recall
Boston Scientific (NYSE:BSX), a global medical device maker, closed at $48.17, down 3.38%. Premarket reports said a cybersecurity incident disrupted global operations and shipping. The company also announced a product recall for certain types of its percutaneous catheters, further weighing on the stock. Investors are watching how quickly the company restores its systems and whether the recall exacerbates the interruption. Trading volume reached …
Cyberattack Disrupts Boston Scientific's Operations: 7 Things to Know
Boston Scientific disclosed a cyberattack disrupting its global IT systems and order shipping capabilities, with the company unable to provide a timeline for when normal operations will resume. The disclosure adds the medical device giant to a growing list of medtech companies — including Stryker, Medtronic and Abbott — hit by major cyberattacks this year.
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