Stock Gains Following Capital Allocation Announcements
Shares of Boston Scientific (NYSE:BSX) rose 2.1% in premarket trading on Monday after the company announced a $2 billion accelerated share repurchase program alongside a $1.5 billion strategic investment in MiRus LLC.
Accelerated Buyback Program Underway
Boston Scientific entered into an accelerated share repurchase agreement with JPMorgan Chase covering $2 billion of its common stock as part of the company’s previously authorized $5 billion share repurchase plan.
Under the agreement, the company expects to initially receive approximately 30.4 million shares based on the May 15 closing price of $52.68, representing 80% of the total repurchase amount.
Final settlement of the transaction is anticipated by June 30, 2026.
Following completion of the program, Boston Scientific will still have approximately $3 billion available under its existing buyback authorization.
The company said the accelerated repurchase is expected to increase adjusted earnings per share by approximately $0.02 during full-year 2026, adding to guidance previously issued on April 22, 2026.
Company Invests $1.5 Billion in MiRus
Separately, Boston Scientific announced a $1.5 billion investment in privately held MiRus LLC in exchange for an approximately 34% equity stake.
MiRus is developing cardiovascular and orthopedic technologies, including the investigational SIEGEL Balloon Expandable Transcatheter Aortic Valve Replacement system.
The agreement also grants Boston Scientific an exclusive option to acquire MiRus’ TAVR business, subject to milestone achievements and additional payments.
SIEGEL Valve Features Novel Materials and Design
According to the company, the SIEGEL TAVR valve uses a proprietary rhenium alloy and is described as the first nickel-free balloon-expandable TAVR valve.
The device incorporates dry porcine tissue leaflets along with a nitric oxide-coated rhenium frame.
Boston Scientific said all valve sizes can be delivered using an 8 French expandable sheath, which is approximately 50% smaller than delivery systems currently available commercially.
Future Acquisition Could Cost Additional $3 Billion
Boston Scientific may choose to acquire the MiRus TAVR business by making additional cash payments totaling up to $3 billion after certain clinical and regulatory milestones are achieved.
The company said the MiRus investment is expected to have an immaterial impact on adjusted earnings per share during 2026.
The SIEGEL TAVR system remains investigational and has not yet received approval for commercial sale.