Boston Scientific invests $1.5 billion in MiRus, gets option on TAVR system

Boston Scientific said it has invested $1.5 billion in MiRus LLC, taking an approximately 34% equity stake in the medtech company and securing an exclusive option to acquire MiRus’s investigational TAVR business.

The announcement, made Monday, gives Boston Scientific a possible route back into the transcatheter aortic valve replacement market. The company’s option covers MiRus’s SIEGEL balloon-expandable TAVR system, which is still investigational and not approved for commercial distribution.

Deal structure

Boston Scientific said the investment includes an exclusive call option on the MiRus TAVR business, subject to milestones. If the option is exercised, the company said it could make additional aggregate cash payments of up to $3 billion.

The company described the transaction as a strategic investment rather than an immediate acquisition. Reuters and Boston Scientific’s SEC filing both reported the same core terms.

Why it matters

TAVR is one of the most important categories in structural heart medicine, and the deal gives Boston Scientific a potential path to expand in a space where it has now tied capital to a future acquisition right rather than an outright purchase.

MiRus’s system remains investigational, so the near-term value of the transaction depends on clinical and regulatory progress. The timing and likelihood of a full acquisition remain unclear.