Company: BSX
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000885725-25-000011
Chunk: 8

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 8
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 companies that may benefit from their status as local suppliers. We also face competition from non-medical device companies, which may offer alternative therapies for disease states that could also be treated using our products, or from companies offering technologies that could augment or replace procedures using our products. 

We believe that our products and solutions compete primarily on their ability to deliver both differentiated clinical and economic outcomes for our customers by enabling physicians to perform diagnostic and therapeutic procedures safely and effectively often in a less-invasive and cost effective manner. We also compete on ease of use, comparative effectiveness, reliability and physician familiarity. In the current environment of managed care, with economically motivated buyers, consolidation among health care providers, increasing prevalence and importance of regional and national tenders, increased competition and declining reimbursement rates, we are also required to compete on the basis of price, value, reliability and efficiency. We recognize that our continued competitive success will depend upon our ability to: 

•offer products and solutions that provide differentiated clinical and economic outcomes,

•create or acquire innovative, scientifically advanced technologies,

•apply our technology and solutions cost-effectively and with superior quality across product lines and markets,

•develop or acquire proprietary products and solutions,

•attract and retain qualified personnel, 

7

•obtain patent or other protection for our products,

•obtain required regulatory and reimbursement approvals,

•continually provide quality products and enhance our quality systems and

•supply sufficient inventory at competitive prices to meet customer demand.

Research and Development 

Our investment in research and development is critical to driving our future growth. Our investment in research and development supports the following:

•internal research and development programs, regulatory design and clinical science, as well as other programs obtained through our strategic acquisitions and alliances and

•engineering efforts that incorporate customer feedback into continuous improvement efforts for currently marketed and next-generation products.

We have directed our development efforts toward innovative technologies designed to expand current markets or enter adjacent markets. We continue to transform how we conduct research and development by identifying best practices, driving efficiencies and optimizing our cost structure, which we believe will enable increased development activity and faster concept-to-market timelines. Focused, cross-functional teams take a formal approach to new product design and development, helping us to manufacture and offer innovative products consistently and efficiently. Involving cross-functional teams early in the process is the cornerstone of our product development cycle. We believe this collaboration allows our teams to concentrate resources on the most viable and clinically relevant new products and technologies and to maximize cost and time savings as we bring them to market.

In addition to internal