In order to expand ear, nose, and throat (ENT) profile, Medtronic plc will acquire Intersect ENT for approximately $1.1 billion. Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care.
- The Intersect ENTs steroid releasing implants are designed to provide mechanical spacing and deliver targeted therapy to the site of disease
The complementary product lines and customer base will further Medtronic’s efforts to have a positive impact for patients who suffer from chronic rhinosinusitis (CRS).
The major deals and expansions by Medtronic are mentioned below:
Oct 2020: The worlds leading medical technology company Medtronic plc. announced a partnership with medical device company The Foundry. The partnership combines Medtronic’s leadership in Structural Heart and intellectual property with The Foundry’s track record of innovation in the field of transcatheter mitral valve repair and replacement.
Aug 2020: Medtronic announced to acquire the manufacturer of InPen, Companion Medical to expands the companys ability to serve people in their diabetes journey. The combination will offer a unique and expansive ecosystem of support regardless of how insulin is delivered to customers.
July 2020: Medtronic plc announced to enter into a tender offer agreement for the acquisition of Paris based Medicrea, a pioneer in the transformation of spinal surgery through artificial intelligence, predictive modeling and patient specific implants.
June 2020, Medtronic plc and Foxconn Industrial Internet, a business group within Foxconn Technology Group (Foxconn), announced that Foxconn had successfully completed Medtronics regulatory and quality requirements necessary to begin manufacturing Medtronic Puritan Bennett 560 (PB560) ventilators for Medtronic in the United States.
June 2020, Medtronic plc and Blackstone announced that Medtronic intends to significantly increase research and development (R&D) funding in its Diabetes Group through an agreement to receive $337 million of funding from funds managed by Blackstone Life Sciences (BXLS) including co-investors, aimed at advancing new, innovative products especially designed to reduce the burden of diabetes management.
December 2019, Medtronic plc, announced it had completed the acquisition of Klue, a software company focused on behavior tracking that can provide real-time insights into when a person is consuming food. Klues technology is expected to be incorporated into the Medtronic Personalized Closed Loop (PCL) insulin pump system, currently in development.
Medtronic plc is one of the largest medical technology company in the world, headquartered in Dublin, Ireland. The company provides services and solutions to alleviating pain, restoring health and extending life for millions of people across the world. The company employs approximately 86,000 people globally and it serving physicians, hospitals and patients in more than 150 countries.