Stocks
BSX Stock Gains Momentum with $1.5B Investment in MiRus
Boston Scientific's stock price rose by 5% on Monday after the company announced a $1.5 billion investment in MiRus, a privately held firm that develops biomaterials and implant technologies for cardiovascular and orthopedic diseases.
The deal gives Boston Scientific an exclusive option to acquire MiRus' Siegel transcatheter aortic valve replacement (TAVR) business, which is built using a proprietary alloy designed to restore blood flow in patients with severely narrowed aortic valves.
In addition to the investment in MiRus, Boston Scientific also entered into a $2 billion accelerated share repurchase agreement with JPMorgan Chase as part of its $5 billion share repurchase program.