Shares of medical equipment maker Penumbra PEN.N rise 12% to $350 premarket.

Boston Scientific BSX.N says it will buy Penumbra in a deal valued at about $14.5 billion.

Boston Scientific fell 5% on the news.

The transaction values each Penumbra share at $374, a premium of 19.3% to the stock's last close.

The deal is expected to be completed later this year.

PEN shares rose 29.6% in 2025.