Medtronic acquires privately held company to expand renal care business
Medtronic acquired Bellco on Feb. 1 to expand its recently formed renal care solutions business. Terms of the deal were not announced.
Bellco, a privately held company based in Italy, offers blood purification treatments for patients with renal failure, multiple organ failure and sepsis as well as acute dialysis machines for patients with end stage renal disease.
Approximately three million patients suffer from end stage renal disease, and the number is expected to double in the next decade, according to data that Medtronic cited in a news release.
Ven Manda, president of Medtronic’s renal care solutions business, said that patients with end stage renal disease require dialysis for their entire lives or until they undergo a kidney transplant.
Medtronic said that it expects the acquisition to be earnings neutral in fiscal year 2016 and neutral to accretive to earnings in the following years.
“The formation of the Renal Care Solutions business combined with the Bellco acquisition supports Medtronic’s economic value strategy,” Medtronic said in a news release. “Partnering with stakeholders in healthcare, Medtronic is better positioned to offer products and services that deliver clinical and economic value to the healthcare system. Medtronic is focused on leading the shift to value based healthcare, which rewards those who can deliver quality healthcare to more people at the most affordable cost.”
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.