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Boston Scientific hit by cyberattack, global operations affected

Created at 26 Aug · 10:51 AM1 source↑ Market-relevant
IN SHORT

Boston Scientific disclosed a cybersecurity incident on Wednesday that disrupted global operations, including systems for processing customer orders. The company is working with specialists to investigate and contain the threat, with shares falling 3.5% premarket.

Key Numbers

3.5%premarket share drop for Boston Scientific

Who's Involved

Boston Scientific
medical device maker affected by cybersecurity incident
Sahil Pandey
reporter
Tasim Zahid
editor

↳ Why This Matters

The cybersecurity incident at Boston Scientific highlights ongoing vulnerabilities in the healthcare sector, potentially impacting patient care and supply chains, and underscores the financial risks associated with such attacks as evidenced by the company's premarket share decline.

Key facts

  • Boston Scientific detected a cybersecurity incident on August 25.
  • The incident has disrupted global operations, including systems for processing and shipping customer orders.
  • The company is working with third-party cybersecurity specialists to investigate and contain the threat.
  • Boston Scientific has not yet determined if the incident will materially impact its business.

Boston Scientific announced on Wednesday that a cybersecurity incident has disrupted its global operations, affecting systems used for processing and shipping customer orders. The company detected the incident on August 25 and has initiated its incident-response protocols, collaborating with external cybersecurity experts to investigate and mitigate the threat. The attack is expected to continue impacting parts of the business while recovery efforts are underway. Boston Scientific stated that it has not yet determined if the incident will have a material impact on its business, and an investigation into the full scope and nature of the incident is ongoing. Shares of the company declined 3.5% in premarket trading following the disclosure. This incident marks the latest in a series of cyberattacks targeting the healthcare sector, with other affected entities including Abbott Laboratories, Stryker, Medtronic, Clover Health, Novo Nordisk, and West Pharmaceutical Services.

Frequently asked questions

Boston Scientific detected the incident on August 25.

Global operations were affected, including some information systems used to process and ship customer orders.

Boston Scientific has not yet determined if the incident is reasonably likely to have a material impact on its business.

Yes, the company is working with third-party cybersecurity specialists to investigate and contain the threat.

What Happens Next

01Boston Scientific will continue its investigation into the full scope and nature of the incident.
02Recovery efforts are expected to continue affecting parts of the company's business.

How It Developed

Boston Scientific detected a cybersecurity incident on August 25.
The company activated incident-response procedures and engaged third-party specialists.
Global operations, including order processing and shipping, were disrupted.
Shares of Boston Scientific fell 3.5% premarket following the announcement.

Sources

T1
Boston Scientific hit by cyberattack, global operations affectedReuters

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