Medtronic to acquire medtech company Scientia Vascular for $550M
Medtronic has agreed to acquire Scientia Vascular, a Salt Lake City-based medtech company focused on developing new stroke treatments. The total value of the transaction is approximately $550 million, though that number could increase if certain milestones are met.
Scientia Vascular specializes in guidewires and catheters specifically designed to combat the challenges associated with treating complex cerebral vasculature. The company was founded in Reno, Nevada, in 2007 and then relocated to Salt Lake City in 2013. In 2022, Scientia Vascular moved to a larger headquarters and ramped up its manufacturing capabilities to meet rising demand for its U.S. Food and Drug Administration-cleared devices. It now has more than 300 employees.
In a statement, Medtronic emphasized that “time is brain” and stroke remains one of the world’s leading causes of death. This move was designed to expand the company’s neurovascular portfolio and help care teams improve their procedural efficiency.
“As a company committed to improving patients’ lives, we are humbled and excited for what's ahead,” said Rick Randall, CEO of Scientia Vascular. “Scientia has developed critical technology that has been embraced by physicians. This deal allows us to take our engineering into disease states globally and positions Medtronic with a comprehensive portfolio and complete guidewire line. With the size and scale of Medtronic, the opportunity to treat more patients and drive more impact is truly exciting.”
The Aristotle 24 Guidewire. Image courtesy of Scientia Vascular.
“Medtronic is thrilled to acquire Scientia to accelerate meaningful innovation in neurovascular care,” added Linnea Burman, senior vice president and president of Medtronic's neurovascular business. “This acquisition positions Medtronic with a full suite of products. It builds a strong foundation for Medtronic and supports procedures across both hemorrhagic and acute ischemic stroke. Medtronic's best-in-class therapies, combined with Scientia's leading access portfolio, will be incredibly powerful. With 12 million people globally suffering from stroke each year, we look forward to contributing to better patient outcomes around the world.”
This acquisition is scheduled to close in the first half of Medtronic’s FY27. Medtronic believes it will be “minimally dilutive” to the company’s adjusted earnings per share and “accretive thereafter.”
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.