Medtronic acquires CardioInsight and expands its AF business
Medtronic acquired CardioInsight Technologies in a debt-free deal announced on June 19 that increases Medtronic’s focus on atrial fibrillation and other arrhythmias.
CardioInsight’s ecVUE system is a noninvasive cardiac system that maps electrical disorders of the heart. The device received FDA 510(k) clearance in November 2014.
In a news release, Medtronic said the ecVUE system had been used in more than 1,400 patients in the U.S. and Europe. CardioInsight will join Medtronic’s atrial fibrillation solutions business in its cardiac rhythm and heart failure division. The deal was valued at approximately $93 million.
For Medtronic’s most recent quarter, revenue for its cardiac rhythm and heart failure division increased 11 percent and revenue for its atrial fibrillation solutions business increased more than 30 percent. The company wrote that its atrial fibrillation business growth was driven by its Arctic Front Advance CryoAblation System, a second-generation cryoballoon for paroxysmal atrial fibrillation.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.