MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Medtronic pays up to $105 million for Visualase

Medtronic pays up to $105 million for Visualase

By

Medtronic pays up to $105 million for Visualase

Medtronic (NYSE:MDT) said today that it paid up to $105 million to acquire Visualase and its MRI-guided laser neurosurgery device.

The deal calls for Medtronic to pay $70 million up front, plus another $35 million in milestone payments, according to a press release.

Medtronic, a strategic investor with an ownership stake in Houston-based Visualase, said the net payment including that stake is roughly $64 million.

Visualase’s device, which Medtronic said has approval from the FDA, is an MRI-guided laser and image-guided system for minimally invasive neurosurgeries including surgical thermal ablation, according to the release. Medtronic said it plans to add the device to its surgical technologies division "and will integrate the technology into its broader neuroscience offerings."

"We are excited about this opportunity to add Visualase’s complementary technology and expertise to our neurosurgical solutions portfolio, which includes intra-operative imaging, surgical navigation, powered instruments and cerebrospinal fluid (CSF) management," surgical technologies president Mark Fletcher said in prepared remarks. "The Visualase laser ablation technology gives neurosurgeons a minimally invasive option to precisely target and treat small areas of tissues. We are the recognized leader in high technology solutions for specialties such as neurosurgery, spinal surgery and orthopedics. This acquisition broadens our strong and growing portfolio of innovative surgical products and represents entries into new areas such as surgical thermal ablation."

"The transaction with Medtronic is critical to ensure more patients have access to our beneficial technology," added Visualase CEO William Hoffman. "We are proud of the MRI-guided laser ablation technology and other products we have developed and their impact on the well-being of patients. Medtronic is clearly committed to the area of minimally invasive neurosurgery and we look forward to working as a team to innovate in this area."

Medtronic said it expects the deal to be neutral to fiscal 2015 earnings and accretive thereafter.

In case you missed it

RSS From Medical Design & Outsourcing

  • One of FDA’s top lawyers leaves to join Greenberg Traurig
    Greenberg Traurig recently announced that James C. Fraser, a former associate chief counsel for litigation at the FDA, has joined its Litigation and Health Care & FDA practices in Washington, D.C. Fraser left FDA in August. He has more than 16 years of experience in life sciences litigation and most recently worked in conjunction with… […]
  • September 2021 Issue: Our latest Medical Device Handbook is out!
      Making medical devices: Everything you need to know The innovation-fueled evolution of drug eluting stents Dexcom CEO Kevin Sayer says G7 will be ‘wonderful’ Getting the inside scoop behind top medtech innovations Autumn is upon us, and it is once again time to sip a pumpkin spice latte  — or a pumpkin beer —… […]
  • Steris launches two new vaporized hydrogen peroxide biodecontamination systems
    Steris has launched the next generation of its vaporized hydrogen peroxide (VHP) biodecontamination systems to achieve 6-log bioburden reduction in good-manufacturing-practice pharmaceutical, medical device and research environments. It’s possible to integrate the new VHP 100i and 1000i systems into a facility’s building automation and HVAC systems, running a decontamination cycle at programmed intervals or at… […]
  • First witnesses in Elizabeth Holmes federal fraud trial take the stand
    Two of the prosecution’s witnesses took the stand yesterday on the second day of Elizabeth Holmes’ federal fraud trial. Theranos’ former financial controller San Ho Spivey, who is referred to as Danise Yam, took the stand and testified about the company’s financial condition during its heyday. Yam told Assistant U.S. Attorney Robert Leach that Theranos… […]
  • Axonics loses IP challenge to Medtronic patents
    Medtronic (NYSE:MDT) announced that it picked up three victories in an intellectual property (IP) dispute against Axonics (NSDQ:AXNX) over sacral neuromodulation devices. According to a news release, the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board (PTAB) rejected Axonics’ attempt to invalidate three Medtronic patents in its IP infringement lawsuit related to Medtronic’s InterStim neuromodulation device… […]
  • Cepheid wins EUA for new version of COVID-19, flu, RSV combination diagnostic
    Cepheid announced today that it received FDA emergency use authorization (EUA) for its Xpert Xpress CoV-2/Flu/RSV Plus diagnostic. Sunnyvale, California-based Cepheid designed its Xpert Xpress Plus as a rapid molecular diagnostic test for the qualitative detection of the viruses causing COVID-19, Flu A, Flu B and respiratory syncytial virus (RSV). Get the full story at our… […]
  • Stratasys expands anatomical modeling services for healthcare
    Stratasys Direct Manufacturing now offers anatomical modeling and consultative services for the healthcare industry. The Stratasys (NASDAQ: SSYS) subsidiary opened its new Healthcare Print Center in Eden Prairie, Minnesota, and soft-launched the new offerings with an invite-only beta test for medical device manufacturers. Over the past 13 weeks, Stratasys J750 Digital Anatomy printers have created… […]
  • FDA clears NeuroOne’s Evo sEEG electrode
    NeuroOne Medical Technologies (NMTC) announced that it received FDA 510(k) clearance for its Evo sEEG electrode technology. Eden Prairie, Minnesota-based NeuroOne’s Evo sEEG electrode technology received clearance for temporary (less than 24 hours) use with recording, monitoring and stimulation equipment for the recording, monitoring and stimulation of electrical signals at the subsurface level of the brain,… […]
  • Cardinal Health docks executive bonuses over opioid costs
    Cardinal Health’s board of directors reduced bonus payouts for CEO Mike Kaufmann and his four top-paid executives due to the cost of opioid litigation. After pressure from investors, Cardinal Health (NYSE:CAH) for the first time has disclosed how its board of directors factored the opioid litigation settlement costs into the pay packages of Kaufmann, Chief… […]
  • Creating Safe Usable Medical Device Solutions: Free webinar from MedAcuity and Fathom Consulting
    MedAcuity — a Boston-based software development partner for medical device makers — and Minneapolis-based Fathom Consulting are offering a free webinar exploring “the importance of design and development collaboration to keep projects on time and on budget.” The four panelists — Mary Donnelly and Elizabeth Sipple from Fathom and Bruce Johnston and Mike Kropp from… […]
  • Steris launches new cleanroom disinfectant wipes
    Steris Life Sciences has launched a new disinfectant wipe for cleanroom surfaces. The new Vesta-Syde SQ 64 sterile wipes are packaged with a separate, internal pouch that contains the active ingredient, quaternary ammonium.  The internal pouch design “allows for maximum chemical stability while offering a simple, convenient, and consistent method to saturate the wipes,” Steris… […]

Leave a Reply