October 30, 2014 by Val Kennedy
Medtronic CEO Omar Ishrak today unveiled what the medical device giant’s management structure will look like after it closes its mega-merger with Covidien early next year.
According to an employee presentation filed with the SEC, the ‘new’ Medtronic will be comprised of 4 major business segments, headed by Medtronic’s 3 existing group presidents, plus Covidien group president Bryan Hanson. Read more
October 29, 2014 by Brad Perriello
Abbott said today that it’s buying into the electrophysiology business with a pair of acquisitions, a $250-million-plus deal for Topera Medical and another transaction for Advanced Cardiac Therapeutics and its ablation catheter.
The deal for Menlo Park, Calif.-based Topera and its cardiac arrhythmia mapping technology includes an unspecified amount pegged to “performance milestones,” Abbott said. Read more
October 31, 2014 by Brad Perriello
Zimmer yesterday revealed the management team and post-merger business structure it expects to implement after the close of its pending $13.35 billion merger with crosstown rival Biomet, including its new name: Zimmer Biomet.
David Dvorak, now Zimmer’s president & CEO, will keep that role at Zimmer Biomet. Twelve other executives from both organizations will report to Dvorak, according to a press release. Read more
October 30, 2014 by Brad Perriello
Medtronic and Covidien said yesterday that their pending, $43 billion merger is slated to close in early 2015.
The companies said the timeline is based on their need to finalize the joint proxy statement and prospectus, win approval from regulators and shareholders and then win the favor of the Irish High Court. Covidien’s corporate domicile is Ireland, although the company is run from its Mansfield, Mass., headquarters. Read more
November 3, 2014 by Brad Perriello
Covidien, seeking to appease anti-trust regulators on its pending $43 billion merger with Medtronic, said it agreed to a $30 million deal for its Stellarex drug-coated balloon with Spectranetics.
The deal, slated to close once the Covidien-Medtronic union closes in early 2015, covers the Stellarex angioplasty platform, a drug-eluting balloon used to treat peripheral artery disease. Spectranetics said it expects to launch the Stellarex device as soon as it wins CE Mark approval in the European Union, expected in late 2014 or early 2015. Read more