Frank Quaratiello, Boston Herald Business Editor, on Boston Scientific

But -- to get a lot of responses here 978 is that it like. Ninety minutes is I have four daughters three or merit and the fourth wedding is this summer. We did -- we gave each daughter 101000 dollars to do with what they could parents of the two groups also contributed. And we've had very nice weddings on 101000 dollars can be done OK so -- give them a budget and and they work with in that and they pooled their money whenever that may be it's worth it Seattle trust my wife. With the she's gonna slide in the I think this stuff on the -- knows I don't know anything about the Stanley money so. Like if he she can be spending money on the winning that I would need to know about -- Unita and I'm on my best lead in the companies say oh by the way -- member Tokyo's only spend 101000 dollars on your daughter's wedding I spent a hundred that's kind of woman. She did you wrote for for removing yourself from the equation and not knowing about where the money's not bill it's my fault for marrying somebody who's a lot smarter -- that's really where I made a mistake I. I like this 1250 wait answering that question -- I had earlier in the show. The reception is in lieu of the gallery member of that person and so I was just wondering why the bride's family always had to pay. Our text number 68680. What did you work how much will you pay for your daughter's wedding 68680. You can texture responsible get to a later right now though we are joined by Boston -- Boston -- Business editor francoeur TL frank welcome to the show -- -- I'm doing great good morning spirits. So -- you interviewed the current CEO of Boston Scientific yesterday. And he tried to sell you on the idea that there in the midst of a turnaround did it work. There are -- first of all I have I actually entered in interviewed him a few days ago the interview took a little while to put together that. He didn't need any compelling case for the company now does that mean I'm resting -- to buy buttons and it's a bit I'm not quite sure. But and he he is a very Smart guy and punishment he's been around for awhile what's tricky about Boston Scientific right now is. And it's only going to be this CEO until the end of October. 8 avenues you know who's coming over Mike Mahoney came over from Johnson & Johnson. In kids takeover until November 1 because of that non compete. Clauses in this current. But he's already in the company. He's in the company in fact he's. He's got the title of president I think he's running their cardiovascular. Division which is their largest. Divisions 60% the company and its offices. Right across the hall from -- So I actually didn't see him when I was out there in Natick at all yup let my understanding is he's he's very involved up to all the live up to the limit of what he can do. Because of the non compete. What are the new devices that the they have coming on -- -- in your article you reflected on something called hypertension and an asthma. Device now when I think about hypertension and -- I think medication not medical devices. Right and debt that that's -- I think is well and that's I think most people think. The I didn't get a lot of -- -- and hypertension. Device but the asthma devices. Seems to be something that and again I am I'm not a position nor do I play one on TV so I really don't know how these things work. But. It's seems to be a divisive kind of blows. Radio frequency. Energy through your road the end -- the muscles. It's called bronchial warm -- lap he would. Does not sound very good news to me but. -- was talking about a woman that he met last march. Who had been and in the healthcare system in the six months prior to this treatment. Many times. This is for asthma you're talking about right Brett you're -- Not yet in one case almost died in the emergency room had a procedure. And he said that -- months following the procedure. No hospital visits. Nothing whatsoever so I think like so many of these devices and I was I was amazed to hear that Boston Scientific made thirteen thousand different devices. They're very specialized they're not for everyone yeah but if you have a certain condition and here it is another. Being injured doctors school kids to potentially treat your. -- you don't have to take medication so you'd think that ultimately you'd be a little bit better for you if you can stay off -- some asthma medication which is full of steroids it's gonna be good for what about the hypertension on what do they got there. You know the hypertension device and not I didn't get hit as many details on that and and it's so I can't instill into it. They do you have a lot of new products they've acquired some companies in California area or in the middle of. Acquiring them. So they've got a lot of different product that they're rolling out the rolling out when he warned new products just this year in their cardiovascular. Side and they're very excited about those. They are also very excited about their global expansion possibilities. I was talking to Hank about China in particular and they have. A market share of you know in the one thing in the thirties to 40% throughout most of the world. But in a lot of emerging markets their market share is very low you know single digit marketshare. And they just he was saying they just haven't focused on it at all and with this new management group that is one of the things that they're trying to do either actually building. South of Shanghai. Manufacturing in training center over five years they're putting in a 150 million dollars. -- the Chinese afford these devices though do they have they. They hit my guess is that there are a lot of these developing markets don't date the the people they need the devices can afford a. Well there that is. That is -- to a certain degree. But I also think what they're recognizing in China is a growing middle class which were all seeing and you know an aging populations so. There are there are certainly. Price pressures but the. Chinese are very interested in their government is very interested in building out their healthcare infrastructure. And I think you are seeing -- well there middle class these countries is starting to be able awards. So to afford these devices. There would today too -- talk about the stock price being in the tank I mean it's been like a five to seven dollar stock for the last year. Any did he address that at all. We we talked about it a little bit and and I think it's actually been along a longer time than -- year than it's been that has been down that low. It's interesting because when I was in their conference room interviewing -- At a chart up on the wall in the tribe went to 2004. -- -- and which. I -- you -- the. It exactly if you know. You know much about the company's stock price was a good point to stop the -- yup. But we talked about that a little bit and and I think. That they are not really focusing on that I think they're really looking hard -- the future you know as anyone within that situation. And they really are optimistic. I I didn't get a sense. And and part of that senses that the openness and the willingness to be interviewed because in the past that in the recent past the company's been pretty hostile toward the media. Not very open and I think that this is a sign that this new management team have yet. They get that they need to tell their story they get that they they need to you know focus on the positive. The fact of the matter is that the very. Is that it's a very risky business you know these are. These are devices that people are typically buying because they have serious health problems. Often times -- kind of toward the end of life. So every every time a person passes away with one of these devices. In yup there's always the risk civil lawsuit that you get -- and -- Graham or grandma's life long enough that you didn't fulfill this promise. And and so what they're really risky business to be in and the fact of the matter is. They have a lot of people who are working very hard to create creative. Life extending devices now they're not gonna make you live forever and that's unfortunately what everybody wants but there are many many people out there who. Need these things seem to have a a better quality of life for a certain period of years. Frank let me ask are they committed to staying in Massachusetts I mean they've been here a long time I'm guessing they hire a lot of kids out of the UN MIT and you know some of the technical schools around town. The two what are they doing in terms of their employee base in Massachusetts. Yet no indication that they are moving out of Massachusetts whatsoever they. They have a very strong presence here and -- -- through acquisition makes the developing. Senators all over the world there actually. When he 4000 employees yeah globally it got a big presence in Minnesota outside Minneapolis -- acquisition in California. And their building in China but but notes and Massachusetts isn't going to be home for many years. All right frank thanks for your -- your story thanks for joining us today in the financial exchange. Thanks for having -- here -- when we come back we're gonna be joined by and just. When they got from -- not dot com she's gonna tell us about the cost of weddings throughout the country that more coming up on the financial change.