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Boston Scientific hit with cybersecurity incident

Boston Scientific continues recovery efforts after a cyberattack disabled global shipping, ordering, and product manufacturing. The company stated in a securities filing that the full scope of the attack is still being determined. There is currently no timeline for the restoration of these systems. The outage has already caused share prices to drop between 3.38% and 6% and may reduce third-quarter revenue by 600-700 bps.

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What changed

Boston Scientific confirmed the attack disrupted product manufacturing and that no restoration timeline exists.

Live updates

  1. Boston Scientific cyberattack disrupts manufacturing and shipping

    Boston Scientific continues recovery efforts after a cyberattack disabled global shipping, ordering, and product manufacturing. The company stated in a securities filing that the full scope of the attack is still being determined. There is currently no timeline for the restoration of these systems. The outage has already caused share prices to drop between 3.38% and 6% and may reduce third-quarter revenue by 600-700 bps.

    Why it matters

    The company produces medical devices, meaning disruptions to manufacturing and shipping can impact healthcare providers. This incident follows a pattern of healthcare sector targeting, including a separate breach at McKesson.

    What is confirmed

    • The cyberattack affected the company's ability to manufacture products and process customer orders.
    • Boston Scientific is still working to restore systems knocked offline by the attack.
    • The company stated in a securities filing that the full scope of the incident is still being determined.

    What to watch next

    • Announcement of a restoration timeline for manufacturing and shipping
    • Updated revenue guidance for the third quarter
    • Identification of the threat actor responsible for the attack
    Sources used for this update (7)
    1. startupfortune.com — Hackers Stole Data on 8.7 Million Manchester Airports Group Customers
    2. www.supplychaindive.com — Boston Scientific’s ordering, shipping disrupted in cyberattack
    3. www.medtechdive.com — Boston Scientific says cyberattack has disrupted product manufacturing
    4. www.securityweek.com — Boston Scientific Still Recovering From Cyberattack
    5. www.helpnetsecurity.com — ShinyHunters claims it stole 284 million patient records from McKesson
    6. techcrunch.com — Hackers claim millions of patient records stolen during data breach at healthcare giant McKesson
    7. www.infosecurity-magazine.com — Healthcare Giant McKesson Investigates Data Breach Incident
    confidence 100%

  2. Boston Scientific global operations disrupted by August 25 cyberattack

    A cyberattack detected on August 25 has halted global shipping and ordering systems for Boston Scientific. The IT outage caused company shares to drop between 3.38% and 6%. Analysts warn the incident will impact third-quarter revenue, with some estimating a potential hit of 600-700 bps. The company is currently conducting recovery efforts to restore its IT systems and resume normal business continuity.

    Why it matters

    Boston Scientific is a major medical technology firm. Disruptions to its shipping and order processing can delay the delivery of critical healthcare devices to providers. This incident occurs amid a broader trend of targeting the healthcare sector.

    What is confirmed

    • A cyberattack detected on August 25 caused global operational disruptions for Boston Scientific.
    • The attack halted global shipping and ordering systems.
    • Boston Scientific shares fell following the disclosure of the IT outage.
    • The company's IT team is currently engaged in recovery efforts.

    Still unconfirmed

    • Analysts estimate a potential 600-700 bps hit to Q3 revenue.
    • Shares dropped specifically by 3.38%.
    • Shares fell up to 6%.

    What to watch next

    • Confirmation of the specific threat actor responsible for the attack
    • Official Q3 revenue reports showing the actual financial impact
    • Updates on the restoration of global shipping and ordering systems
    Sources used for this update (8)
    1. health.economictimes.indiatimes.com — Boston Scientific hit by cyberattack, global operations affected
    2. www.infosecurity-magazine.com — Boston Scientific Reveals Global Disruption After Cyber Incident
    3. www.securityweek.com — Cyberattack Causes Global Disruption at Boston Scientific
    4. blockonomi.com — Boston Scientific Corporation (BSX) Stock: Slide as Cyberattack Disrupts Shipments and Operations
    5. startupfortune.com — Boston Scientific Shares Slide After a Cyberattack Halts Global Shipping
    6. www.whalesbook.com — Boston Scientific Shares Fall Up To 6% After Global IT Outage
    7. www.echolive.ie — Boston Scientific's IT team continues its 'recovery efforts' after cyber attack
    8. www.briefs.co — Industry Leaders Push for Stronger AI Cybersecurity Measures
    confidence 90%

  3. Boston Scientific hit by cyberattack, global operations affected

    Boston Scientific is dealing with a cybersecurity incident that has disrupted its operations, including its ability to process and ship orders. The company is working to restore its systems. Shares of Boston Scientific fell after the disclosure. The attack is expected to continue affecting parts of the company's business while recovery efforts are underway.

    Why it matters

    The incident has impacted the medical device company's operations globally. Boston Scientific is working to restore its systems and minimize the disruption. The company's shares fell 4% in premarket trading on Wednesday following the disclosure.

    What is confirmed

    • Boston Scientific was hit by a cyberattack.
    • The cyberattack has disrupted the company's global operations.
    • The incident has impacted the company's ability to process and ship orders.
    • Shares of Boston Scientific fell after the disclosure of the cyberattack.

    What to watch next

    • Restoration timeline of Boston Scientific's operations
    • Details on the nature and extent of the cyberattack
    • Impact on Boston Scientific's customers and patients
    Sources used for this update (11)
    1. Reuters — Boston Scientific hit by cyberattack, global operations affected
    2. Boston Scientific — Update on recent cybersecurity incident
    3. CNBC — Medical device maker Boston Scientific is being hit by a cyberattack. The shares are falling
    4. MassDevice — Boston Scientific hit with cybersecurity incident
    5. WSJ — Boston Scientific Stock Drops After Cyberattack
    6. www.bostonglobe.com — Boston Scientific hit by cyberattack, global operations affected
    7. www.telegram.com — Boston Scientific hit by cyberattack. Stock fell Wednesday
    8. finance.yahoo.com — Boston Scientific: Network outage the result of 'cybersecurity incident'
    9. finance.yahoo.com — Boston Scientific shares fall after cybersecurity incident disrupts operations
    10. thenextweb.com — Boston Scientific has disclosed a cybersecurity incident causing a global disruption to operations
    11. wbjournal.com — Boston Scientific hit by cyberattack, customer shipping impacted
    confidence 100%