Boston Scientific’s $1.5B Investment Secures 34% Stake and $3B Option in TAVR Valve
Boston Scientific invests $1.5 billion for a 34% equity stake in MiRus LLC to access its SIEGEL balloon-expandable TAVR valve built on a proprietary rhenium alloy. The agreement includes an exclusive option to acquire the TAVR business for up to $3 billion in additional payments upon clinical and regulatory milestones.
1. Strategic Investment Terms
Boston Scientific has committed $1.5 billion for a 34% equity position in MiRus LLC, securing rights to its SIEGEL balloon-expandable transcatheter aortic valve. The deal includes an exclusive option to acquire the entire TAVR business for up to $3 billion in additional cash payments contingent on clinical and regulatory milestone achievements.
2. Innovative Valve Design
The SIEGEL TAVR system features a nickel-free, rhenium alloy frame with a nitric oxide coating and dry porcine tissue leaflets. Its open-cell design prevents foreshortening and enables precise placement, while a pre-mounted configuration on an 8 French expandable sheath—approximately 50% smaller than current sheaths—may reduce vascular complications.
3. Clinical Trials and Future Milestones
MiRus has launched the STAR pivotal trial enrolling up to 1,025 patients across risk profiles to evaluate safety and effectiveness of the 23 mm, 26 mm and 29 mm valve sizes. Boston Scientific expects the initial investment to be immaterial to adjusted 2026 EPS and retains options to acquire mitral and tricuspid replacement valve assets for further growth.