Medtronic (MDT) Strengthens Neurovascular Platform with Scientia Vascular Purchase [Yahoo! Finance]
Medtronic plc. Ordinary Shares (MDT)
Last medtronic plc. ordinary shares earnings: 2/18 06:45 am
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Source: Yahoo! Finance
On March 10, Medtronic plc (NYSE:MDT) announced that it had agreed to acquire Scientia Vascular for about $550 million, with additional payments tied to future milestones. Scientia is a private company based in Utah. It has developed specialized guidewires and catheters that help doctors move through complex brain blood vessels more easily. The technology is built to work alongside Medtronic's existing neurovascular products. The deal is meant to strengthen Medtronic's position in stroke and other neurovascular procedures. In these cases, doctors need fast and precise access to blocked or damaged vessels. That part is critical. Linnea Burman, senior vice president and president of Medtronic's Neurovascular business, which is part of the Neuroscience Portfolio at Medtronic, made the following comment: “Medtronic is thrilled to acquire Scientia to accelerate meaningful innovation in neurovascular care. This acquisition positions Medtronic with a full suite of products. It builds
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