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.
