Medtronic Acquires Two Device Companies for $645MWritten by Laura Miller | July 08, 2011
Medtronic recently acquired two medical device companies, Salient Surgical Technologies and PEAK Surgical, for a total of $645 million, according to company news releases.
Salient is a medical device company focused on the advanced energy category for haemostatic sealing of soft tissue and bone in various orthopedic, spine, abdominal and thoracic procedures. The $525 million acquisition will broaden Medtronic Surgical Technologies’ surgical products portfolio. Medtronic previously invested in Salient and currently holds an ownership stake in the company.
PEAK is a medical device company focused on the field of advanced surgical technology. PEAK’s product portfolio is based on its proprietary PlasmaBlade technology, which consists of a family of disposable cutting devices with proprietary insulation technology for use during electrosurgery. The acquisition was valued at $120 million. However, Medtronic also currently holds ownership stake in PEAK, and the transactional value is approximately $105 million.
Both transactions took place yesterday and are subject to governmental and regulatory review. The companies will operate under separate entities until the transaction is cleared.
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