Medtronic inks $235m deal for RF Surgical Solutions

July 13, 2015 By Brad Perriello

Medtronic (NYSE:MDT) said today that it agreed to pay $235 million to acquire RF Surgical Systems and its device for keeping track of items used during surgery.

The RF Surgical system is designed to help prevent “never events” such as leaving a surgical sponge in a patient after surgery, using low radiofrequency signals to track the RF tags embedded in surgical gauze, sponges and towels, Medtronic said.

“Patients are our priority. Improving patient safety and outcomes is our daily focus, which directly aligns with the RF Surgical technology, a simple and cost-effective solution to avoidable complications in surgical procedures,” surgical innovations president Chris Barry said in prepared remarks.

“We are pleased to be joining the Medtronic team as their long-standing commitment to patient safety closely aligns with RF Surgical,” added RF Surgical CEO John Buhler. “As we strive to make the RF Surgical technology the global standard of care, we look forward to the innovation opportunity afforded by our combined capabilities.”

Medtronic said it plans to fold RF Surgical into its surgical solutions division of its minimally invasive technologies business. The deal, expected to close in August, is not expect to make a material contribution to Medtronic’s annual earnings, the Fridley, Minn.-based company said.

Greenlight Guru to provide QMS to NIH diagnostics program
NIH has chosen Greenlight Guru to provide quality management software for its COVID-19 rapid diagnostics program. The agency launched the Rapid Acceleration of Diagnostics (RADx) program in March 2020 to speed the development, commercialization and implementation COVID-19 testing technologies. As the only QMS provider currently available to all projects in the RADx program, Greenlight Guru… […]
MicroCare names CFO
MicroCare (New Britain, Conn.) has announced the appointment of John Stardellis as the company’s new chief financial officer (CFO). Stardellis joins MicroCare with more than 20 years’ experience in a variety of finance, policy and operational leadership roles. Most recently, he served as CFO at i-Health, a division of DSM Nutritional Products. “John’s track record with… […]
Mayo Clinic helps launch two new companies for improved diagnostics
Mayo Clinic announced that it is introducing a new technology platform to support two new companies it has launched. Rochester, Minn.–based Mayo Clinic’s Remote Diagnostics & Management Platform (RDMP) is designed to connect data with new AI algorithms and augment human decision-making within existing clinical workflows, according to a news release. Get the full story… […]
Intertek gains FDA nod for premarket device testing
Intertek has won accreditation under an FDA pilot program for testing laboratories, the company said this week. The accreditation authorizes Intertek’s 12 “medical centers of excellence” to perform premarket testing of devices for the U.S. market. The Accreditation Scheme for Conformity Assessment pilot program is a voluntary program developed to provide increased confidence in testing… […]
HHS shoots down ‘flawed’ plan to let some devices skip review
The Biden administration has nixed what it described as a “flawed” Trump-era decision to exempt certain medical devices — including infusion pump controllers and fetal monitors — from regulatory review. HHS published the original notice in the Federal Register on Jan. 15, shortly before President Joe Biden was set to take office, without speaking with… […]
More than 50 medtech testing sites win FDA pilot accreditation
The FDA announced today that more than 50 laboratory sites were chosen to participate in its program for streamlined regulatory reviews. In total, 53 sites made the FDA’s initial list for participation in its Accreditation Scheme for Conformity Assessment (ASCA) program, which will set out to support more streamlined regulatory reviews of medical device market… […]
Medline Industries up for sale?
Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal. The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company might alternatively seek… […]
Micro to add plant in Costa Rica
Contract manufacturer Micro today announced plans to open a new plant in Costa Rica. The 32,000 ft² facility will significantly increase Micro’s cleanroom assembly capacity, according to the Somerset, N.J.-based company. It will be located in the Zona Franca Metro business park and is expected to open in late 2021 with operations beginning in 2022.… […]
Survey shows solid medical device industry performance despite pandemic
By Stewart Eisenhart, Emergo Group Medical device and IVD manufacturers report healthy performance over the course of 2020, but also faced significant operational and regulatory challenges related to the coronavirus pandemic. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are the author’s only and do not… […]
Cardinal Health wins $58M federal PPE contract
Cardinal Health (NYSE: CAH) today said it has won a $57.8 million contract from the U.S. Dept. of Health and Human Services to support the Strategic National Stockpile. The Dublin, Ohio-based company received the contract, which includes options that if exercised by the HHS could reach $91.6 million, to store and distribute 80,000 pallets of… […]
Qosina adds single-use bioprocessing devices
Qosina this week launched its product line for the single-use bioprocess industry. The new product line includes tube-to-tube bard connectors, luer fittings, check valves, tubing pinch clamps, tubing, steam thru connectors and more. Get the full story on our sister site, Medical Tubing + Extrusion. The post Qosina adds single-use bioprocessing devices appeared first on […]