2022: Final agreement to acquire Affera
Medtronic plc announced on January 13, 2021, to Zdrav.Expert that it had entered into a definitive agreement to acquire Affera Inc., a private medical technology company based in Boston. Read more here.
2021: $1.1 billion purchase of sinus implant manufacturer Intersect ENT
In early August 2021, Medtronic announced a final agreement to acquire sinus implant manufacturer Intersect ENT for $1.1 billion. Medtronic will acquire all outstanding shares of the California-based company at $28.25 per share in a cash-in-full deal. The deal is expected to close by the end of the 2021-22 financial year if approved by regulators and Intersect ENT shareholders. Read more here.
2020
Purchase parathyroid recognition hardware developer without Ai Biomed contrast
In late October 2020, Medtronic announced the acquisition of Ai Biomed for an undisclosed amount. Read more here.
Avenu Medical Purchase
At the end of September 2020, Medtronic announced the purchase of Avenu Medical, which has developed a system for endovascular minimally invasive creation of arteriovenous fistulas (an artery-vein connection) in patients with end-stage renal disease on dialysis. Financial and other terms of the deal were not disclosed. Read more here.
Purchase of insulin pen syringe manufacturer Companion Medical
In mid-August 2020, Medtronic announced the acquisition of insulin pen syringe manufacturer Companion Medical for an undisclosed amount. Companion Medical's product portfolio includes InPen, an intelligent insulin pen syringe that combines with a diabetes management app. The app allows you to calculate insulin doses, monitors insulin activity and sends reports to doctors. In the United States, these funds are available only by prescription. InPen complements Medtronic's diabetic portfolio, including the MiniMed insulin pump, the Guardian CGM system and others. Read more here.
Buying a technology manufacturer for spinal surgery
In mid-July 2020, Medtronic announced the acquisition of Medicrea, a French technology company for spinal surgery. The deal will help Medtronic strengthen its own orthopedic surgery platform. Read more here.
Medtronic bought the company to add AI and data analysis to robotic surgeons
In mid-February 2020, Medtronic announced the acquisition of Digital Surgical. The companies plan to jointly develop AI data analysis systems for laparoscopic and robotic surgery. Terms of purchase, including financial ones, were not disclosed. Read more here.
Buying spinal cord stimulation technology developer Stimgenics
In early January 2020, Medtronic announced the acquisition of Stimgenics. The company plans to use the startup's technology in an implantable neurostimulator, Intellis, designed to treat chronic pain. The financial terms of the deal were not disclosed. Read more here.
2019
Purchase of software developer that recognizes eating and water Klue
In mid-December 2019 Medtronic , she announced the purchase of a startup. Klue The company did not disclose the value of the transaction. More. here
Purchase of titanium spinal implant manufacturer Titan Spine
In mid-May 2019, Medtronic announced the acquisition of titanium spinal implant manufacturer Titan Spine. Read more here.
Purchase of heart arrhythmia tool developer EPIX Therapeutics
In late January 2019, Medtronic signed a final agreement to purchase cardiac arrhythmia treatment tool developer EPIX Therapeutics. The acquired company will expand Medtronic's portfolio of tools to treat cardiac arrhythmia patients. Read more here.
2018
Purchase of IT platform developer for proper nutrition Nutrino Health
On November 21, 2018, Medtronic announced the acquisition of IT platform developer Nutrino Health. The financial aspects of the deal were not disclosed, but sources from the Israeli publication Globes believe that the purchase cost Medtronic $100 million. Read more here.
Purchase of robot surgeon developer Mazor Robotics for $1.64 billion
On September 20, 2018, Medtronic announced the purchase of Mazor Robotics for $1.64 billion to strengthen its position and technology in the market for robotic surgeons for spinal surgery. Read more here.
Purchase of the developer of equipment for minimally invasive neurosurgery Visionsense for $75 million
In mid-April 2018, Medtronic bought the Israeli company Visionsense for $75 million. Medtronic is going to pay $40-50 million in cash and provide another $25 million in control contributions. Read more here.
2017
Buying Crospon
In early December 2017, it became known about the takeover by an American company of a manufacturer of Medtronic Irish medical equipment. Crospon More. here
Investing $40 million in Mazor Robotics, increasing share to 10%
At the end of August 2017, the American medical device manufacturer Medtronic announced another investment in Mazor Robotics. The volume of the new round of funding is about $40 million.
This Medtronic investment in Mazor Robotics was the third. The total investment, taking into account the deal announced at the end of August, reached $72 million, which allowed Medtronic to increase its stake in Mazor Robotics to 10.6%. Read more here.
$6.1 billion asset sale to Cardinal Health
On April 18, 2017, the pharmaceutical company Cardinal Health announced the purchase of several medical supplies units from Medtronic for more than $6 billion. This deal did not please investors: on the day of its announcement, Cardinal Health quotes collapsed by 12%.
Medtronic sells to Cardinal Health the business of manufacturing compressors to treat deep vein thrombosis, bandages, syringes and other health products. In total, the deal worth $6.1 billion covers 23 product categories, which brought Medtronic about $2.4 billion in revenue in 2016.
To pay for the acquisition of assets, Cardinal Health will raise a loan of $4.5 billion. The remaining part will be paid out of own funds.
 | Given current trends in healthcare, including the increasing proportion of the elderly population and the growing demand for post-operative nursing technologies, this advanced product portfolio will help us further expand the operating room, long-term care and home care business by providing patients with all the treatment they need, Cardinal Health CEO George Barrett said in a statement. (George Barrett), whose words are quoted in a press release on the Medtronic deal. |  |
Analyst at Cowen & Co. Charles Rhyee believes that the purchase of Medtronic medical supplies assets fits well with Cardinal Health's healthcare strategy and continues to diversify the company's business beyond the pharmaceutical market.
However, the market did not respond positively to this deal. However, the cheapening of shares was the result of not only the announced acquisition, but also a weak forecast for income for 2017. The company said it expects earnings at the lower end of its previously reported range of $5.35- $5.5 per share, while analysts polled by FactSet predict a reading of $5.42. The weak outlook at Cardinal Health was attributed to lower prices for pharmaceutical products.[1]
2016
Investing in MD Start Medical Equipment Developers Accelerator
In October 2016, MD Start announced that it had received $11.5 million from Medtronic and other investors to create and finance the activities of four French medical device developers. Read more here.
No. 1 by number of medical startups absorbed
Analysis company CB Insights analyzed the acquisitions of medical startups by giant corporations from 2012 to 2016. The most active buyer of medical device startups has become: Medtronic 15 companies since 2012. Most acquisitions are recent: 60% of transactions were made in 2015. The median disclosed funding for the startup at the time of the acquisition of Medtronic was $34 million. The median estimate at the time of acquisition was $150 million. More. here
Investing in Mazor Robotics $20 million
In July 2016, medical device manufacturer Medtronic announced an investment of $20 million in Mazor Robotics. Read more here.
Buying HeartWare for $1.1 billion
On June 27, 2016, Medtronic announced the acquisition of HeartWare, a company developing implantable heart pumps designed for patients with severe heart failure, for $1.1 billion.
Under the terms of the agreement, Medtronic will pay $58 for each HeartWare share, which is almost twice the value of securities by the close of the exchange on June 24, 2016. The deal, which was approved by the boards of directors of both companies, is scheduled to close in Medtronic's fiscal second quarter (ending October 28, 2016). Medtronic reported that the announced acquisition will not affect revenue and profit for the 2017 fiscal year. Read more here.
Purchase of low-cost endoprosthesis developer Responsive Orthopedics
In early June 2016, Medtronic announced the purchase of knee and hip prosthesis developer Responsive Orthopedics. The value of the deal was not disclosed. With this acquisition, Medtronic is set to enter the low-cost joint endoprosthesis market in 2017.
Buying Smith & Nephew's gynaecology business for $350 million
On May 19, 2016, Medtronic announced the purchase of part of the business of the British medical device manufacturer Smith & Nephew for more than a third of a billion dollars.
We are talking about a division specializing in the production of gynecological equipment, including the Truclear system, used to remove neoplasms in the uterine cavity. Medtronic's acquired assets will replenish a small portfolio of products in the field of minimal invasive surgery and expand the gynecological business of the American company.
The deal will cost $350 million. Smith & Nephew will use these funds for share buybacks. The companies intend to fulfill all formalities regarding the concluded agreement in July 2016. Shortly thereafter, Smith & Nephew is set to begin buying back shares from its investors, spending $300 million on the program.
In 2015, the gynecology business brought Smith & Nephew $56 million in revenue, which corresponds to only 1% of the company's total revenue. She says the deal won't have much of an impact on the 2017 adjusted earnings figure.
Medtronic reported that the purchase of Smith & Nephew assets will not affect revenues in 2017, but will increase profits further.
Most of the employees of the Smith & Nephew division being sold will move to Medtronic. Smith & Nephew intends to assist in the development of the Truclear device for Medtronic during the transition of the business from one owner to another.
| | We believe gynecology is one of the most underdeveloped specializations. Smith & Nephew has created a fast-growing business that expands minimally invasive treatments in gynecology, says Chris Barry, president of surgical innovation at Medtronic. - This acquisition will expand our gynecological portfolio and create opportunities for further study and development of global methods and solutions capable of improving gynecological surgery. | |
2015: Purchase of Irish Covidien for $49.9 billion
In 2015, Medtronic absorbed the Irish-based company Covidien. The deal amounted to $49.9 billion.
2001: $3.7 billion purchase of insulin pump developer MiniMed
Medtronic started developing insulin pumps in 2001, then buying MiniMed for $3.7 billion. Subsequently, Medtronic unexpectedly received support in this direction from the Food and Drug Administration (FDA), which is often criticized for too strict requirements for equipment used in American healthcare. Because of this, many manufacturers of innovative medical devices prefer to implement their devices abroad.[2]
1986: Takeover of Dutch pacemaker developer Vitatron
Previously, the independent Vitatron company in 1986 was acquired by the American Medtronic and became the European division of the latter.
1970-1990: Buying up medical technology manufacturers
In the 1970s, 1980s and 1990s Medtronic , she applied her experience to treat even more diseases. The company presented a device for stimulating the deep structures of the brain and spinal cord to relieve chronic pain, as well as devices for the treatment of scoliosis, mechanical prostheses of the heart valves, implantable defibrillators hearts and targeted drug delivery systems.
In addition, Medtronic has acquired about a dozen medical technology companies. Including for $3.6 billion was acquired by Sofamor Danek.
Purchases from other firms have allowed her to enter new markets, such as the market for biological heart valve prostheses, cardiopulmonary equipment, coronary and other catheters used for vascular repair, products used in spinal surgery and diabetes management.
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |