Boston Scientific invests $1.5B for ~34% stake in MiRus, gains option to acquire TAVR system for $3B

BOSTON SCIENTIFIC CORP

Paid $1.5B cash for 33.75% non-voting equity in MiRus; exclusive call option to buy TAVR business for $3.0B upon clinical/regulatory milestones.
SIEGEL TAVR valve uses proprietary rhenium alloy, nickel-free, balloon-expandable, delivered through 8 Fr sheath; still investigational.
Option includes right to acquire mitral/tricuspid replacement assets; if option not exercised, equity stake forfeited or reduced ~75%.
MiRus initiated STAR pivotal trial (up to 1,025 patients) evaluating SIEGEL valve; early feasibility study presented in 2025.
Investment expected immaterial to 2026 adjusted EPS; collaboration aims to bring differentiated TAVR system to aortic stenosis market.

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