October 26, 2017 / 11:08 AM / a year ago

UPDATE 1-Boston Scientific hikes revenue forecast, boosted by acquisitions

(Adds details on acquisitions, revenue forecast)

Oct 26 (Reuters) - U.S. medical device maker Boston Scientific Corp on Thursday hiked its annual revenue forecast, driven by recent acquisitions.

The company raised its 2017 revenue forecast to $8.99 billion to $9.02 billion, from $8.89 billion to $8.99 billion.

While its heart devices business contributes the bulk of Boston Scientific's revenue, the company has been making acquisitions to strengthen other parts of its portfolio, buying Apama Medical Inc and Symetis SA in recent months and EndoChoice Holdings Inc last year.

The higher forecast came alongside strong third-quarter net sales at the Marlborough, Massachusetts-based company, driven by growth across all its existing businesses.

Net sales rose 5.6 percent to $2.22 billion in the quarter, edging past analysts' average estimate of $2.21 billion, according to Thomson Reuters I/B/E/S.

Sales at the company's MedSurg unit, which makes devices for neuromodulation and pelvic procedures, rose 10 percent to $831 million in the quarter ended Sept. 30.

The company's net income climbed 24 percent to $283 million or 20 cents per share. Excluding items, it earned 31 cents per share, matching analysts' expectations.

Boston Scientific also raised the lower end of its full-year forecast for adjusted earnings to $1.24 to $1.27 per share from $1.23 to $1.27. (Reporting by Tamara Mathias in Bengaluru; Editing by Sai Sachin Ravikumar)

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