The proposed merger is still subject to the approval of both companies’ shareholders and the Irish High Court.
"We continue to make good progress in planning for the integration of these 1 companies which will unite them under a single mission – to alleviate pain, restore health and extend life for patients with chronic disease around the world. When the transaction is complete, the combined company will allow Medtronic to reach more patients, in more ways and in more places," Medtronic chairman & CEO Omar Ishrak said in prepared remarks.
Medtronic said the U.S., E.U. and Canadian clearances are contingent on the consummation of a deal with Spectranetics (NSDQ:SPNC), which agreed in November to pay $30 million for Covidien’s Stellarex drug-eluting balloon assets.
The Fridley, Minn.-based medtech titan said today that the Spectranetics deal is expected to close shortly after its Covidien buyout goes down in early 2015.