Raising guidance in this economy? Boston Scientific just did it.

Boston Scientific is doing what most other companies are not: increasing sales guidance for investors despite increasingly costly tariffs.

Boston Scientific CEO Mike Mahoney told investors Wednesday that tariffs will cost the medical device maker $200 million in 2025, as he highlighted recent manufacturing investments in Minnesota and Georgia.

Stopping short of saying they will rearrange their supply chain, executives said the company is looking to increase revenue and reduce discretionary spending such as travel meetings to blunt the effects of tariffs.

China is a “complex market” for the company, representing 7% to 8% of sales, Mahoney said Wednesday in a quarterly call with investors. Import taxes on Chinese goods have risen in a back-and-forth fight between Beijing and the White House.

The tariffs aren’t stunting the device maker’s growth, though. Boston Scientific, further expanding in Maple Grove, raised its organic sales growth for the year to 12% to 14%, up from a range of 10% to 12%.

“Our ability to absorb the tariffs I think is more unique than most companies, given the strength of the growth and the leverage that we’re driving to absorb the $200 million — which is unfortunate, but we’re able to absorb it and still deliver very high performance,” Mahoney said.

The Massachusetts-based company makes the finished consoles holding the brains of some of its top-selling medical devices in the Twin Cities, such as its pulsed field ablation system. This catheter system treating atrial fibrillation continued boosting the company’s Minnesota-based cardiology division, which grew organically by more than 31% in the first quarter.

Boston Scientific has approximately doubled its Minnesota workforce in the last 15 years to about 10,000, and is further expanding in the North Star State.

The Maple Grove City Council recently approved a planned expansion costing $139.4 million, according to city documents. The company expects to create 440 new full-time equivalent jobs by 2030, the documents say.

For the first quarter, Boston Scientific reported $1.12 billion in adjusted profit on $4.6 billion in sales, beating Wall Street profit estimates. Sales grew on an organic basis by 18.2%.

During the quarter, the company passed the 10-year anniversary of the Watchman device’s approval. An independent company created this heart plug device preventing stroke-causing blood clots, and Boston Scientific further developed it in Minnesota.

The device franchise grew 24% for the quarter after the company’s market share increased, Mahoney said. Strong uptake in patients receiving the device and undergoing pulsed field ablation with the Farapulse system at the same time, referred to as a concomitant procedure, drove the uptake.

“We’re seeing very strong adoption of the concomitant, based on the safety profile, ease of use, the benefits for the hospital, the benefits of the patient, the physician,” Mahoney said. “It’s great to see the stars aligned to doing the right thing for the patient — the right thing for the hospital system.”

Urology sales were the slowest out of the company’s four largest divisions, increasing by 4.4% organically. Mahoney said this is “a tad under what we’re used to.”

“We are experiencing some supply chain issues across some some specific categories, which I won’t go into detail, that are impacting some back orders within urology business,” Mahoney said. He expects the problems to improve.

Last week, medical products makers Abbott Laboratories and Johnson & Johnson said they expect tariffs to cost hundreds of millions of dollars each.

Abbott said sales for its medical device division increased by 12.6% on an organic basis for the most recent reported quarter. Medtronic is set to report its quarterly results in the coming weeks.

Similar to Abbott, Boston Scientific highlighted U.S. manufacturing projects in its response to tariffs.

“We remain committed to our diversified global manufacturing footprint, investing across all regions and notably within the U.S., where we recently opened our new site in Georgia and continued to increase our Minnesota manufacturing capacity and footprint to support long-term growth,” Mahoney said.

Daniel Brennan, the longtime CFO, announced Wednesday that he is retiring from Boston Scientific after roughly 30 years working for the device maker.

“Dan has been instrumental in transforming the trajectory of our financial performance and building the strong culture and values that are embedded throughout Boston Scientific,” Mahoney said on the investor call.

Jon Monson, the company’s senior vice president for investor relations, will succeed Brennan starting June 30. Monson will receive a base salary of $560,000 and other payments, including a promotional equity award having a total grant value of $1.75 million, according to financial documents filed with the Securities and Exchange Commission.

Brennan will remain at Boston Scientific through as Oct. 3 as a senior adviser after Monson steps into the top financial role.

“I’m thrilled for Jon, as he assumes the CFO role, and I look forward to seeing all the great things he and the team will accomplish for physicians, patients, [Boston Scientific] teammates, and investors in the years to come,” Brennan said.