At MassDevice’s Big 100 Roundtable East event held a couple of nights ago, Mike Mahoney spoke to an audience of nearly 250 med-tech executives and stakeholders about his next move to Boston Scientific “Really, the opportunity was too good to pass up,” Mahoney said.
When he takes over this November, Mahoney plans to jump-start growth for the struggling device maker and he hopes to continue pushing that growth for a long time to come. “I spend a lot of time thinking about the culture and how we’re going to grow,” he said. “I think I can be in this job for a decade or more.” Boston Scientific went through extensive restructuring in 2011 with the aim of decreasing operating costs and increasing profit margins. It did this by implementing new supply chain management systems, which have reduced costs and increased efficiency. The company uses its established global manufacturing capabilities to easily and quickly manufacture products, allowing it to focus more on product development and technological advancement. Boston Scientific designs and manufactures its products in various facilities across the world. The company utilizes third-party manufacturers and distributors extensively, leaving it vulnerable to any distresses that may plague those companies. Since Boston Scientific relies on heavily on the lower costs of overseas production, a result of lower wages and materials costs, it leaves itself especially vulnerable to political instability, quickly rising wages, and material shortages that often plague such economies.