
Medtronic CEO: 'Covidien deal will help us do for ORs what we've done for cath labs'
January 12, 2015 by Brian Johnson
Almost exactly a year ago Medtronic CEO Omar Ishrak insisted that value-based healthcare is the salvation, not the damnation, of the medical device industry.
Speaking today at the J.P. Morgan Healthcare conference in San Francisco, Ishrak cast Medtronic’s $43 billion mega-merger with Covidien in that light, saying it will help expand the mission to capitalize on value-based healthcare. Read more
Medtronic details shareholder votes for Covidien merger
January 9, 2015 by Brad Perriello
Shareholders of Medtronic overwhelmingly approved its pending, $43 billion acquisition of Covidien this week, including a controversial provision that drew lawsuits from some investors seeking to block the deal.
Medtronic revealed the details of the vote in a regulatory filing today, saying that 75.2% of the eligible outstanding shares voted for the deal. Read more
CardioMEMS, Nevro among top 20 VC-backed healthcare exits of 2014
January 7, 2015 by Brian Johnson
At least 4 medtech exits were significant enough to make the cut for the top 20 venture capital-backed healthcare exits of 2014, according to research firm CB Insights.
In total, VC-backed healthcare exits brought in $13.9 billion last year, with about $1.8 billion coming from medtech companies, according to the firm. Read more
Medtronic-Covidien merger could close this month
January 12, 2015 by Brad Perriello
The $43 billion mega-merger of Medtronic and Covidien could close as early as this month now that there’s a date set for the deal’s final hurdle.
Mansfield, Mass.-based Covidien, which is domiciled in Ireland, said today after a hearing before the Irish High Court that the court is slated to meet Jan. 26 “to hear the company’s petition to sanction the scheme of arrangement.” Read more
Covidien's Stellarex drug-eluting balloon wins CE Mark
January 9, 2015 by Brad Perriello
European regulators granted market clearance for Covidien’s Stellarex drug-eluting balloon for treating peripheral artery disease, the company said today.
Covidien is due to sell the Stellarex assets to Spectranetics as soon as its $43 billion merger with Medtronic closes, which is expected to occur later this month or in early February. Read more