Cash-rich Medtronic on acquisition spree

September 15, 2010 by MedCity News

"Opportunistic" Medtronic Inc. taking advantage of the weakened U.S. economy to acquire companies on the cheap.

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When you're the richest kid on the block, it's easy to make friends.

For Medtronic Inc. (NYSE:MDT), those friends happen to be investment bankers and venture capitalists.

The world's largest medical device maker has been on an acquisition tear of late, using its considerable cash hoard to buy nine companies since 2009, including ATS Medical Inc. and CoreValve Inc. Medtronic also holds minority stakes in 60 companies, a total investment of $360 million.

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