Boston Scientific Honored as '2019 Outstanding Technology Innovation Enterprise' in China

BeijingNovember 14, 2019 /PRNewswire/ -- Today, at the 2019 China Innovation Summit and Awards Ceremony, Boston Scientific Corporation (NYSE: BSX) was honored as the “2019 Enterprise of Excellence in Technological Innovation” for its cutting-edge minimally invasive products and technological innovations, as well as its active support for the innovative upgrading of the local healthcare industry. This prestigious award recognizes Boston Scientific’s relentless efforts to advance medical development in China, demonstrating its robust innovation capabilities and profound influence within the industry.

The “China Innovative Enterprise Selection” is jointly organized by the Economic Observer, one of the most influential economic media outlets in China, together with the China Marketing Association and the Beijing Innovation Society. Since its inception in 2011, the selection has been successfully held for nine editions. The 2019 edition, themed “1949–2019: Honoring the Founders,” adhered to the principles of fairness and professionalism. Through project report research, site visits, public awareness surveys, and expert reviews, it comprehensively assessed corporate influence and development potential, selecting a cohort of outstanding enterprises that demonstrate global vision and an innovative spirit, are committed to driving industry transformation, and strive to improve people’s living standards.

Leading the High-Quality Development of Global Minimally Invasive Healthcare with Robust Innovation

Boston Scientific’s recognition as the “2019 Enterprise with Outstanding Technological Innovation” is attributable to the innovation momentum it has accumulated through its sustained focus on cutting-edge technologies, as well as its ongoing contributions to improving the quality of life for patients in China. Boston Scientific invests over $1 billion annually in product development and clinical sciences, accounting for more than 10% of its revenue, making it one of the medical device companies with the highest R&D investment globally. As of 2017, Boston Scientific had launched 100 new products worldwide and held 19,000 granted patents. Notably, Boston Scientific has been steadily climbing the ranks on Forbes’ “World’s 100 Most Innovative Companies” list, rising to 65th place in 2018. Additionally, its Global CEO, Michael Mahoney, ranked 17th on Forbes’ 2019 list of “America’s 100 Most Innovative Leaders.”

Leveraging its advanced innovative achievements, Boston Scientific has repeatedly received accolades in the field of medical innovation. Since 2013, a total of six Boston Scientific products or technologies have won annual awards or been nominated for the Prix Galien Awards, often referred to as the “Nobel Prize of the pharmaceutical industry,” including many globally first-of-their-kind novel medical solutions.The World's FirstApproved fully subcutaneous implantable cardioverter-defibrillator (S-ICD),China's FirstThe Approved Left Atrial Appendage Occluder WATCHMAN^®、The World's FirstMedical devices that provide protection and reduce the risk of stroke during transcatheter aortic valve replacement (TAVR), such as the SENTINEL Cerebral Protection System, were all showcased at the recently concluded Second China International Import Expo.

Furthermore, at the second China International Import Expo, Boston Scientific showcased comprehensive solutions across six major disease areas: interventional cardiology for coronary artery disease, structural heart disease, cancer management, arterial and venous interventions, rhythm management and neuromodulation, and urology. Among these, 24 flagship products made their “China debut,” includingWorld's FirstRadioactive Glass Microspheres -- TheraSphere Y-90 Radioactive Seeds^[1]etc. They have not only attracted widespread attention from industry professionals and mainstream media across China, but also effectively demonstrated Boston Scientific’s determination and sincerity in further deepening its presence in the Chinese market and contributing to the realization of the grand vision of “Healthy China 2030.”

Promoting Open Innovation to Empower the Transformation and Upgrading of the Local Healthcare Ecosystem

In addition to its relentless pursuit of product and technological innovation, Boston Scientific’s collaboration with partners across industry, academia, research, healthcare, and government to build a comprehensive medical innovation ecosystem represents another major highlight of its China innovation strategy.

In October this year, Boston Scientific signed an investment cooperation agreement with Chengdu High-Tech Zone to establish its second China headquarters and the first innovation center in western China in Chengdu, supporting the development of the medical ecosystem in western China, bringing high-quality medical solutions to grassroots levels in the west, benefiting all of China, and expanding globally.

In June this year, Boston Scientific partnered with the China Cardiovascular Physicians Innovation Club (CCI) to jointly establish the “Center of Excellence for Cardiovascular Innovation,” an innovation exchange and incubation platform in the cardiovascular field. By integrating CCI’s cutting-edge academic concepts and clinical innovation needs with Boston Scientific’s technology translation capabilities, the center builds a bridge linking clinical ideas to commercialization, truly realizing the mission of being “rooted in clinical practice and serving clinical care.”

In March 2017, Boston Scientific signed a strategic cooperation agreement with the Technology Transfer Institute of Tsinghua University to jointly establish the “International Health Industry Innovation Center” and the “International Health Industry Innovation Fund,” aiming to promote independent innovation in the field of high-end medical devices. Based on this agreement, Boston Scientific’s “T3 Innovation Hub” was officially unveiled in 2018. This platform brings together outstanding entrepreneurship, investment, R&D, marketing, and regulatory policy teams from across the Asia-Pacific region, accelerating the translation of academic achievements into valuable medical products and services, and helping to address the unmet needs of patients throughout China.

“We are delighted that Boston Scientific has received this honor, and we extend our sincere gratitude to the organizers for their recognition and commendation,” said Ms. Zhang Jun, Global Vice President of Boston Scientific and General Manager of Greater China. “Innovation is a key driver in the development of China’s healthcare sector and a strategic pillar in advancing the ‘Healthy China’ initiative. Boston Scientific remains committed to its mission of ‘Advancing Science for Life,’ leveraging cutting-edge medical technologies to enhance healthy living. Meanwhile, we are dedicated to expanding localized models of innovation-driven collaboration, pooling collective wisdom and strength to jointly improve the health and well-being of the Chinese people.”

[1] This product is not yet marketed in China