View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 1, 2015

Ireland’s Medtronic completes acquisition of Medina Medical in US for $150m

Irish medical technology firm Medtronic has completed the acquisition of US-based medical device firm Medina Medical for approximately $150m.

Med

Irish medical technology firm Medtronic has completed the acquisition of US-based medical device firm Medina Medical for approximately $150m.

The transaction also includes additional payments based on achievement of key milestones.

Medtronic already owned a stake in Medina Medical prior to this deal, which is expected to allow the company to have a pre-tax gain in the second quarter of fiscal year 2016.

Medina Medical is involved in commercialising modern treatments for vascular abnormalities of the brain, including cerebral aneurysms.

Medtronic Restorative Therapies Group neurovascular division president Brett Wall said: "Medtronic is committed to fighting stroke through the innovative therapies we bring to clinicians and patients.

"Medina Medical’s breakthrough technology makes it a natural fit with our Neurovascular portfolio, further strengthening our hemorrhagic stroke portfolio.

"The Medina embolisation device features advanced technology to treat cerebral aneurysms that we think can one day disrupt the coil market."

The embolisation device is an intrasaccular 3D mesh implant that has been developed to fill the inside of a brain aneurysm.

The company has designed the new technology to have an implant with 3D self-expandable mesh, which provides a scaffold across the aneurysm neck, adjusts to the shape of the aneurysm and reduces blood flow.

The company received CE mark approval for the device in the European Union (EU), while it is not approved in the US.

"Medina Medical’s breakthrough technology makes it a natural fit with our Neurovascular portfolio."

Medina Medical CEO Erik Engelson said: "This acquisition offers Medina Medical a unique opportunity to bring together our breakthrough technologies with Medtronic’s leading clinical, regulatory, market development, and commercial expertise.

"We look forward to working closely with Medtronic to provide expanded access and economic efficiencies to our clinical partners in fighting stroke – particularly aneurysms and hemorrhagic stroke."

Earlier in August, Medtronic agreed to acquire another US-based medical device firm Twelve for approximately $458m.

Under that deal, Medtronic will pay $408m at closing and $50m on achievement of CE Marking for Twelve’s transcatheter mitral valve replacement (TMVR) device.


Image: Medtronic operational headquarters, Minneapolis, US. Photo: courtesy of Medtronic, Inc.

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU