Medtronic (NYSE:MDT) said today that it acquired renal care products make Bellco for an undisclosed amount and plans to fold it into a newly created renal care solutions division.
Fridley, Minn.-based Medtronic said Mirandola, Italy-based Bellco makes devices designed to treat end-stage renal failure, multiple organ failure and sepsis, including dialyzers and chronic and acute dialysis machines. The products are on the market in more than 50 nations, Medtronic said.
“ESRD patients require dialysis for the remainder of their lives, or until a viable kidney transplant becomes available. We believe Medtronic’s renal care solutions can offer better, more accessible and affordable solutions to the growing population of people living with ESRD,” renal care solutions president Ven Manda said in prepared remarks. “The integration of Bellco’s portfolio of solutions will help further advance Medtronic’s efforts to provide comprehensive care for dialysis patients worldwide.”
Medtronic said it expects the acquisition of Bellco from Charme Capital Partners to be earnings-neutral during fiscal 2016 and neutral to additive after that. Charme Capital Partners acquired Bellco when it was spun out of Sorin Group, now LivaNova (NSDQ:LIVN), in 2012.
“I believe Medtronic is an excellent opportunity for the Bellco team and ESRD patients worldwide. In 4 years, we created the ideal conditions to attract a global industry leader that is positioned to support Bellco’s long-term growth strategy,” added Charme Funds founder & managing partner Matteo di Montezemolo.
