BSX · 8-K · 20260518PR000041
Acquisition / Partnership / Divestiture
BOSTON SCIENTIFIC CORP · 2026-05-18 · Importance 71 · Surprise 60 · In source text
Boston Scientific invested $1.5 billion for an approximately 34% equity stake in privately held MiRus LLC, which develops cardiovascular and orthopedic biomaterials, implants and procedural solutions. The agreement gives Boston Scientific an exclusive option to acquire MiRus’s SIEGEL balloon-expandable TAVR system, with additional aggregate cash payments of up to $3 billion following specified clinical and regulatory milestones. The investment is expected to be immaterial to Boston Scientific’s 2026 adjusted earnings per share. MiRus has initiated the STAR pivotal trial evaluating the SIEGEL valve in up to 1,025 patients with severe, symptomatic aortic stenosis, and Boston Scientific may also obtain an option to acquire MiRus mitral and tricuspid valve assets if the TAVR option is exercised.
Key facts
- Boston Scientific may exercise the option to acquire the MiRus TAVR business by making additional aggregate cash payments totaling $3 billion, at Boston Scientific’s option following MiRus’ achievement of certain clinical and regulatory milestones, that would result in 100% ownership of the TAVR business, subject to customary closing conditions. source
- Boston Scientific invested $1.5 billion in return for an approximately 34% equity stake in MiRus LLC. source
- As part of the investment agreement, Boston Scientific received an exclusive option to acquire the MiRus TAVR system, subject to additional payments and the completion of certain milestones. source
- If Boston Scientific exercises the option, MiRus will have the right to receive additional payments based on net sales of the SIEGEL TAVR valve over a specified period. source
- Boston Scientific will also have an exclusive option to acquire mitral and tricuspid replacement valve assets from MiRus for an additional payment. source
- The investment in MiRus is expected to be immaterial to adjusted earnings per share for Boston Scientific in 2026. source
- The press release announcing the investment was dated May 18, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | contingent | — | Boston Scientific may exercise the option to acquire the MiRus TAVR business by making additional aggregate cash payments totaling $3… |
| assets | positive | contingent | — | Boston Scientific may exercise the option to acquire the MiRus TAVR business by making additional aggregate cash payments totaling $3… |
| cash | negative | realized | — | Boston Scientific invested $1.5 billion in return for an approximately 34% equity stake in MiRus LLC. |
| assets | positive | realized | — | Boston Scientific invested $1.5 billion in return for an approximately 34% equity stake in MiRus LLC. |
| net_income | negative | contingent | — | If Boston Scientific exercises the option, MiRus will have the right to receive additional payments based on net sales of the SIEGEL TAVR… |
| cash | negative | contingent | — | Boston Scientific will also have an exclusive option to acquire mitral and tricuspid replacement valve assets from MiRus for an additional… |
| assets | positive | contingent | — | Boston Scientific will also have an exclusive option to acquire mitral and tricuspid replacement valve assets from MiRus for an additional… |
| net_income | unclear | committed | — | The investment in MiRus is expected to be immaterial to adjusted earnings per share for Boston Scientific in 2026. |