The biggest neurovascular acquisitions of 2026 involve three buyers: Boston Scientific is buying Penumbra, Medtronic bought Scientia Vascular and Terumo Neuro is buying Arsenal Medical.
Each buyer is filling a different gap in stroke and brain aneurysm care, from clot removal to the wires that reach the brain to new treatments for brain bleeds.
This guide explains each deal, where it stands today and what iData Research data says about how the market could change.
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Table of Contents
➜ Who is buying whom in neurovascular in 2026?
➜ Why is Boston Scientific buying Penumbra?
➜ Why did Medtronic buy Scientia Vascular?
➜ Why is Terumo Neuro buying Arsenal Medical?
➜ How did Stryker start the neurovascular deal wave?
➜ What do these neurovascular acquisitions mean for the market?
➜ Neurovascular acquisitions FAQ
Key Takeaways
- Boston Scientific agreed to buy Penumbra for about $14.5 billion in January 2026, returning to neurovascular after selling that business to Stryker in 2011.
- Medtronic closed its $550 million Scientia Vascular deal in June 2026, adding a leading maker of neurovascular guidewires.
- Terumo Neuro agreed to buy Arsenal Medical in September 2026 to add NeoCast, an investigational liquid embolic for chronic subdural hematoma.
- iData Research values the global neurological device market at $12.2 billion in 2025, growing at a 4.1% CAGR to $16.1 billion by 2032.
Who is buying whom in neurovascular in 2026?
Three neurovascular acquisitions have shaped 2026 so far.
- Boston Scientific is buying Penumbra for about $14.5 billion, announced January 15, 2026 and expected to close in early 2027.
- Medtronic bought Scientia Vascular for $550 million, announced March 10, 2026 and closed in June 2026.
- Terumo Neuro is buying Arsenal Medical for an undisclosed price, announced September 29, 2026 and still pending.
All three buyers are chasing stroke care.
About 87% of strokes are ischemic, and mechanical thrombectomy is now the standard of care for eligible patients with a large vessel blockage, according to a 2026 umbrella review in PMC.
iData Research’s 2026 global neurological device report lists the Penumbra and Scientia Vascular deals among the market’s key recent developments.
These deals are part of a busy year for medtech M&A that also includes Danaher’s $9.9 billion Masimo acquisition.
Why is Boston Scientific buying Penumbra?
Boston Scientific announced on January 15, 2026 that it would acquire Penumbra at $374 per share, an enterprise value of about $14.5 billion.
The company said the deal gives it a scaled entry into mechanical thrombectomy and neurovascular care.
It is a homecoming, since Boston Scientific sold its neurovascular division to Stryker in early 2011 for $1.5 billion.
Penumbra brings stroke brands such as the RED, JET and ACE reperfusion catheters, the Benchmark and Neuron Max access catheters and a line of aneurysm coils.
Penumbra expected about $1.4 billion in revenue for 2025.
In iData Research’s 2025 rankings, Penumbra placed second in global neurovascular catheters and third in neurovascular thrombus management.
Penumbra stockholders approved the merger on May 6, 2026.
The FTC issued a Second Request in March 2026, which lengthened the review.
On October 28, 2026, Boston Scientific CEO Mike Mahoney said the company now expects an early first quarter 2027 close.
Why did Medtronic buy Scientia Vascular?
Medtronic agreed to buy Scientia Vascular on March 10, 2026 in a deal valued at $550 million, plus possible earn-out and milestone payments.
The deal closed in June 2026, according to Medtronic’s quarterly filing.
Scientia Vascular, based in Salt Lake City, makes guidewires and catheters built to navigate the brain’s complex blood vessels.
Stony Brook neurointerventionalist David Fiorella noted at the announcement that microwires and microcatheters are needed in every neurointerventional case.
iData Research data shows why the fit makes sense.
Scientia Vascular ranked second in the global neurovascular guidewire market in 2025, behind Stryker.
Medtronic already ranked first in neurovascular stents, liquid embolics and thrombus management, so Scientia Vascular adds the access step that comes before treatment.
Medtronic said the combined portfolio supports procedures for both hemorrhagic and acute ischemic stroke.
Why is Terumo Neuro buying Arsenal Medical?
Terumo Neuro, the company formerly known as MicroVention, signed an agreement on September 29, 2026 to acquire Arsenal Medical.
Arsenal Medical is a clinical-stage company developing NeoCast, an investigational liquid embolic for chronic subdural hematoma (cSDH).
NeoCast is designed for embolization of the middle meningeal artery, a procedure known as MMA embolization.
Arsenal Medical received FDA Investigational Device Exemption approval for RADIANT, a pivotal randomized study comparing NeoCast with the Onyx liquid embolic system alongside surgery.
Terumo Neuro did not disclose financial terms, and the deal remains subject to customary closing conditions.
cSDH is among the most common neurosurgical conditions in adults, and a 2026 review in PMC notes that four landmark randomized trials of MMA embolization were published in 2024 and 2025.
In iData Research’s 2025 rankings, Terumo placed third in global liquid embolics, behind Medtronic and Johnson & Johnson.
Terumo already leads neurovascular catheters and balloon occlusion, so NeoCast would extend its embolic portfolio into a fast-emerging treatment.
How did Stryker start the neurovascular deal wave?
Stryker made its move about a year before the 2026 deals.
Stryker completed its acquisition of Inari Medical on February 19, 2025, paying $80 per share in a deal worth about $4.9 billion.
Inari’s FlowTriever and ClotTriever systems remove clots in the lungs and legs, and Stryker called the portfolio highly complementary to its neurovascular business.
Boston Scientific’s Penumbra deal follows a similar path, because Penumbra sells clot removal tools for both the brain and the rest of the body.
iData Research ranks Stryker second in the global neurological device market in 2025, with first place in neurovascular guidewires and detachable coils.
What do these neurovascular acquisitions mean for the market?
iData Research values the global neurological device market at $12.2 billion in 2025.
The market is expected to grow at a 4.1% CAGR to reach $16.1 billion by 2032.
That total covers neurovascular devices such as coils, stents, catheters, guidewires and thrombus management tools, along with neuromodulation and neurosurgery devices.
iData Research reports that the shift toward minimally invasive endovascular procedures is driving growth across neurovascular segments.
In 2025, Medtronic ranked first overall, Stryker second and Boston Scientific third, with Boston Scientific’s position driven mainly by neuromodulation.
The 2026 deals point to three likely shifts.
- Boston Scientific gains top-three positions in neurovascular catheters and thrombus management once Penumbra closes.
- Medtronic now competes with Stryker in guidewires as well as in stents and thrombus management.
- Terumo Neuro moves into MMA embolization, where its RADIANT study tests NeoCast against Medtronic’s Onyx.
To see how these buyers compare across all of medtech, read our guide to the biggest medtech companies of 2026.
For full market shares, procedure volumes and forecasts by segment, see the iData Research Global Neurological Device Market report.
Neurovascular acquisitions FAQ
What is the largest neurovascular deal of 2026?
Boston Scientific’s planned purchase of Penumbra is the largest neurovascular deal of 2026, at an enterprise value of about $14.5 billion.
Reuters reported it is Boston Scientific’s second-largest acquisition ever.
Has Boston Scientific completed the Penumbra acquisition?
The Penumbra acquisition has not closed yet.
Boston Scientific expects to complete it early in the first quarter of 2027 after an extended FTC review.
Why are medtech companies making neurovascular acquisitions?
Each buyer is filling a specific gap in its stroke portfolio.
Boston Scientific had no neurovascular business, Medtronic wanted a leading access guidewire and Terumo Neuro is adding a next-generation liquid embolic.
Who leads the neurovascular device market?
Medtronic leads the global neurological device market in 2025, followed by Stryker and Boston Scientific, according to iData Research.
Within neurovascular segments, Medtronic leads stents, liquid embolics and thrombus management, Stryker leads guidewires and detachable coils, and Terumo leads catheters and balloon occlusion.
What is NeoCast?
NeoCast is an investigational, solvent-free liquid embolic from Arsenal Medical designed for middle meningeal artery embolization in chronic subdural hematoma.
NeoCast is not approved for commercial sale in the United States.
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