Medtronic (NYSE:MDT) yesterday priced a pair of debt tender offers at nearly $5 billion, raising the cap on two sets of senior notes. Last week the Fridley, Minn.-based medical device giant closed a senior notes offering worth €5.0 billion that it’s planning to use to cover the tender offers, after raising the top end of one tender to more […]
Medtronic
Medtronic debt offers draw nearly $9B in tenders
Medtronic (NYSE:MDT) said today that a pair of debt tenders drew nearly $9 billion in tendered notes, exceeding the $5.5 billion purchase price set earlier this month. Last week the Fridley, Minn.-based medical device giant closed a senior notes offering worth €5.0 billion that it’s planning to use to cover the tender offers, after raising the […]
Medtronic touts stroke data from HeartWare HVAD thoracotomy study
Medtronic (NYSE:MDT) today touted stroke data from the Lateral trial of its HeartWare HVAD left ventricular assist device involving implantation via thoracotomy instead of open surgery. With a thoracotomy implantation, surgeons insert the pump via a small, lateral incision between the left ribs and make a second small incision to accommodate the pump’s outflow graft. […]
Medtronic closes $6B debt offering
Medtronic (NYSE:MDT) said today that it closed a senior notes offering worth €5.0 billion that it’s planning to use on a debt tender worth nearly $6 billion. The Fridley, Minn.-based company, which is the world’s largest pure-play medical device maker, said the $5.68 billion senior notes offering consisted of the following issues: €250 million floating-rate senior […]
Innovative Health lands another catheter reprocessing clearance
Innovative Health said today that it has received FDA clearance to reprocess the Biosense Webster PentaRay Nav eco high-density mapping catheter for reuse. The clearance is the latest allowing Scottsdale, Ariz.-based Innovative Health to reprocess catheters. The FDA cleared it in 2018 to reprocess St. Jude Medical’s Advisor FL, Medtronic’s Torqr and Marinr and Biosense Webster’s […]
Medtronic recalls MiniMed pump models on cybersecurity risk
Medtronic (NYSE:MDT) today recalled two models of its MiniMed insulin pumps after researchers discovered cybersecurity risks that could allow a hacker to take control of the devices. The recall affects 11 models in Fridley, Minn.-based Medtronic’s line of MiniMed 508, MiniMed Paradigm and MiniMed Paradigm Veo pumps, according to the FDA. Medtronic said the pumps are […]
Sterigenics moves to upgrade shuttered device sterilization plant
Sterigenics said today that it has applied for permits to upgrade emissions controls at its Willowbrook, Ill. medical device sterilization plant, which had sterilized thousands of devices daily until its Feb.15 shutdown. The Illinois Environmental Protection Agency (EPA) closed the Willowbrook plant, citing excessive emissions of the sterilant ethylene oxide (EO), based on a federal […]
Medtronic closes Titan Spine buyout
Medtronic (NYSE:MDT) said today that it closed a deal to acquire Titan Spine for an undisclosed amount. Mequon, Wis.-based Titan Spine makes a line of titanium interbody fusion devices featuring a surfacing technology it developed to encourage the ingrowth of bone into the implants. The deal was announced May 9. “With today’s announcement, we bring our two […]
Medtronic covers upsized $4B tender with €5B notes offering
Medtronic (NYSE:MDT) yesterday raised the top end of a debt tender to more than $4 billion, covering the outlay with a €5 billion senior notes offering. Earlier this week the Fridley, Minn.-based medical device giant floated a pair of tender offers for senior notes, one for up to $1.18 billion and a second for up […]
Medtronic put up $316m for Epix Therapeutics
Medtronic (NYSE:MDT) put a total of $316 million on the table to acquire Epix Therapeutics, including a $100 million earn-out. The Fridley, Minn.-based company, which is the world’s largest pure-play medical device maker, in January announced the deal for Epix, formerly known as Advanced Cardiac Therapeutics, without revealing further terms. In a regulatory filing last week, […]
CMS expands TAVR coverage
The Centers for Medicare and Medicaid Services have updated the criteria for hospitals and physicians to begin or continue providing transcatheter aortic valve replacement surgery. The decision gives hospitals and providers more flexibility to meet the CMS requirements for performing TAVR, the agency said Friday. The original National Coverage Determination (NCD) for TAVR procedures was cleared in […]