Medtronic plc said Wednesday it will purchase Medicrea Group, a French manufacturer of patient-specific 3D printed spinal implants, in a step to further strengthen its spine surgery business. The friendly, all-cash offer is priced at €7 (US$7.98) for each Medicrea share, a 22% over its July 14 closing price. The total value of the deal is approximately €200 million (about US$228 million), which includes roughly €50 million in net cash and liabilities plus about €150 million in equity. Medtronic expects to close the deal by the end of the year, pending regulatory nods in France and the U.S.
The U.S. Centers for Medicare and Medicaid Services (CMS) posted the much-anticipated draft do-over of the mitral valve repair device coverage memo, and in the process renamed the policy the mitral valve transcatheter edge-to-edge repair (TEER) national coverage memo.
Medtronic plc has won the U.S. FDA’s nod for the first deep brain stimulation (DBS) system that integrates Brainsense, the company’s technology to sense and record brain signals for more personalized treatment. The next-generation Percept PC DBS with Brainsense is approved to treat symptoms associated with Parkinson’s disease, essential tremor, dystonia, epilepsy and obsessive-compulsive disorder.
Royalty deals by an investor into a particular pharmaceutical company program are not unheard of. This structure allows the investor to secure a portion of that specific anticipated upside, while enabling the pharma to fully fund R&D for that program without having to sacrifice other priorities to do so.
Medtronic plc, of Dublin, has gained CE-marking approval for its Minimed 780g system, a next-generation closed-loop insulin pump for people with type 1 diabetes between the ages of 7 and 80 years old. The advanced hybrid closed-loop system (AHCL) features an advanced autocorrection algorithm and Bluetooth connectivity.
Toronto-based Titan Medical Inc. has inked a development and license agreement with Medtronic plc, of Dublin, to advance the development of single-port robotic-assisted surgical tools. A separate agreement gives Medtronic licensing rights to certain Titan intellectual property. The arrangement aligns with Medtronic’s goal of building its robotic-assisted surgery business and gives Titan’s financials a needed shot in the arm.
Like many other med-tech companies, Medtronic plc, of Dublin, saw COVID-19 affect its financial results for its fourth quarter and fiscal year 2020, as procedures were deferred in the wake of the pandemic. Quarterly worldwide revenue came in at $5.998 billion, representing a decrease of 26% as reported and 25% on an organic basis.
Physicians who perform a variety of device implant procedures face a difficult choice in determining whether a patient should be treated. A new article in the Journal of the American College of Cardiology (JACC) recommends that patients who ordinarily would be candidates for surgical aortic valve replacement (SAVR) might instead be referred for the transcatheter alternative.
Irvine, Calif.-based Axonics Modulation Technologies Inc., which is marketing implantable sacral neuromodulation (SNM) devices for the treatment of urinary and bowel dysfunction, reported the submission of a premarket approval (PMA) supplement. Specifically, it is looking to gain full-body magnetic resonance imaging-conditional labeling for 3.0 Tesla (T) MRI scans.
As health care workers face critical shortages of personal protective equipment (PPE) to deal with the COVID-19 crisis, 3D printing companies, medical device manufacturers and other organizations are stepping up to produce face shields, ventilators and other needed supplies. For its part, Rehovot, Israel-based Stratasys Ltd. has assembled a coalition of more than 150 companies and universities to produce 3D-printed visors and clear plastic face shields. The coalition aims to produce up to 16,000 face shields per week by the end of next week.
