Jump in staff costs hit Boston Scientific profits

Boston Scientific achieved a gross profit of $101m in 2023 representing a 6% gross profit margin and this compared to a gross profit of $128m and a gross profit margin of 9% in 2022.

A $50m jump in staff costs contributed to pre-tax profits at the Irish arm of medical device manufacturer Boston Scientific last year decreasing by 28% to $72.79m (€66.3m).

New accounts filed by the Galway-registered Boston Scientific Ltd show that the firm recorded the decrease in profits despite revenues increased 10% from $1.489bn to $1.65bn for the year.