Medtronic completes $550M acquisition of neurovascular company
Medtronic has finalized its acquisition of Salt Lake City-based Scientia Vascular. The deal, first announced in March, values the company at approximately $550 million.
Scientia has been focused on developing new stroke treatments since the company launched in 2007. Its guidewires and catheters are specifically built with improved navigation in brain. Medtronic has pointed to these devices as helpful tools that can simplify stroke treatments and improve procedural efficiency.
“The addition of Scientia's access technologies strengthens our ability to simplify complex neurovascular procedures and support physicians with more seamless solutions,” Linnea Burman, senior vice president and president of Medtronic's neurovascular business, said in a statement. “By bringing together highly complementary technologies, we are building a more integrated platform that will help advance the future of neurovascular care and enable physicians to treat more patients with greater efficiency and confidence.”
“Since its founding, Scientia has been driven by a commitment to improving patients' lives and supporting the physicians who care for them,” added Rick Randall, Scientia’s CEO. “Joining Medtronic is an exciting next step for our team, as their mission closely aligns with the values that have guided Scientia from the beginning. With Medtronic's global scale, we look forward to bringing this technology to more physicians and reaching more patients around the world.”
According to Medtronic, the Scientia portfolio of devices will be “seamlessly integrated” with its existing suite of neurovascular products.
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.