Boston Scientific announced a definitive agreement to acquire medtech firm Penumbra in a deal valued at approximately $14.5 billion, marking the company's largest acquisition in two decades. The transaction is expected to be completed in 2026 and will significantly expand Boston Scientific's cardiovascular device portfolio with differentiated technologies for treating conditions including stroke, pulmonary embolism, heart attack, and aneurysms. The deal values Penumbra at $374 per share, representing a premium of roughly 19.3% to its last closing price. Shareholders have the option to receive payment in cash or stock, with the transaction structured as approximately 73% cash and 27% stock. Upon completion, Penumbra's CEO Adam Elsesser will join Boston Scientific's board, integrating the California-headquartered firm into the Massachusetts-based company's operations. Boston Scientific stated that adding Penumbra's products is expected to improve revenue and margins over time, capitalizing on rising demand driven by an aging population. The acquisition comes as the company recently raised its annual profit forecast due to strong heart device demand, positioning it for growth in a sector analysts expect to see a wave of mega-mergers in 2026. Shares of Boston Scientific jumped over 13% to $354.70 in premarket trading following the announcement. This major deal follows a series of smaller acquisitions last year, including stakes in Nalu Medical and Bolt Medical, as the company continues to bolster its pain-management and cardiac pipelines through strategic M&A activity.