As pulsed field ablation transformed the electrophysiology market over the last year, Boston Scientific Corp. emerged as the biggest winner by far. In its fourth quarter earnings call on Wednesday, the company quantified just how successful its Farapulse PFA system has been.

In its first full year since its spin-off from parent company General Electric Co., GE Healthcare Technologies Inc. reported beating Wall Street’s expectations. For 2023, revenues of $19.6 billion grew 8% organically vs. 2022.

The U.S. FDA added a second pulsed field ablation (PFA) system to the approved list with its greenlight for Boston Scientific Corp.’s Farapulse for treatment of atrial fibrillation (AF). Farapulse joins Medtronic plc’s Pulseselect, which garnered FDA approval in December. Two other PFA devices scored regulatory wins since the new year: Biosense Webster inc.’s Varipulse secured approval from the Japanese Ministry of Health Labor and Welfare and Sichaun Jinjiang Electronic Medical Device Technology Co. Ltd. got the nod from China’s National Medical Products Administration.

At its Investor Day on September 20, Boston Scientific Corp. unveiled an ambitious long-range plan to become “the highest performing med-tech large-cap company” in terms of financial performance, sales growth, EPS, execution and talent retention.” That’s a notable step up from its 2021 goal of being just one of the top performers.

Medtronic plc guided investors’ expectations lower for the balance of its fiscal year, citing pummeling from foreign exchange rates, continued delays in elective procedures and ongoing supply chain issues. In response, the stock (NYSE:MDT) dropped from its close at $82.43 on Monday to open at $76.91 Tuesday. The company reported $7.59 billion in revenue for the first half of its fiscal 2023. That represented a 3% drop on a year-over-year basis, missing consensus expectations of $7.7 billion, in part because of a $457 million foreign currency hit.